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A father’s will left three quarter shares of his estate into trust for his three children for life and then to the children of one of them. The income requirements of each of the life tenants have been different and the trusts have differing levels of capital in them
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 not needed the income...
