BREACH OF TRUST Where a trustee fails in his duties and that causes a loss, a beficiary may claim in breach of trust. In Armitage v Nurse [1998] it was said that “breaches of trust are of many different kinds” ...

There may be times that the terms of the trust may need to or it will be useful to vary the terms. A trust may be varied by: Trust instrument Consent of beneficiaries Court Statute It may be done for ...

Trustees have 4 main powers: The power of investment The power to maintain The power to advance Miscellaneous Trustees’ Powers of Investment INTRODUCTION There is a power and DUTY to invest i.e. trustees must invest the trust property The main ...

Removal of trustees Trustees may retire or disclaim the trust. However, where a trustee becomes incompetent owing to the following criteria, they may be removed from office: Mental illness, or; Bankrupt, or; Remains out of country for over 12 months ...

With an express trust, the trustees will be appointed by deed and may be parties to the deed It is possible for a settlor to exclude the terms of the TA 1925 in whole or in part (TA 1925, s69) → ...

ESTABLISHED FIDUCIARY RELATIONSHIPS There are a number of well established fiduciary duties The following are some established examples where a fiduciary relationship was found: Trustee and Beneficiary Director and Company Solicitor and Client Partner and Partner Agent and Principal Crown ...

INTRODUCTION Certainty of objects: beneficiaries of a trust must be certain, otherwise the trust is void In other words, a trust will be void if the ‘objects’ of that trust (meaning, the ‘beneficiaries’ of that trust) are uncertain Trusts must ...

INTRODUCTION In order for a trust to be formed, there must be certainty as to which property is, and which is not, covered by the trust. The requirement of ‘certainty of subject matter’ is a requirement that the property which is ...

These certainties are fundamental to the validity of any trust (there is also a potential 4th certainty) → so if one of these certainties is uncertain the trust may be invalid There are three certainties required for the creation of ...

INTRODUCTION It is in public interest that property – both real and personal – should be able to be alienated freely. There is a rule that property may not remain in trust perpetually; or for too long a period This ...