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...Transfer and sale; Sewerage farm
Father’s trust
A married man (A) in his mid-70s has two unmarried sisters (B and C) of comparable age. Their father died in 1990 and his will left a one-quarter share in his estate to A absolutely and “a further one-quarter share in trust to pay the income therefrom to A for life and thereafter to his [the son’s] children absolutely”.
The will also left each sister “a further one-quarter share in trust to pay the income therefrom to [B/C] for life and thereafter to the son’s children absolutely”.
The son’s children are the remaindermen in each case; there is no provision for A B or C to take on the interest of the first of them to die.
All of the funds are “in investments of one sort and another” and have been managed to accommodate the wishes of A B and C.
A has...
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