Court Case

a11waysindebt

Hi,

Can any legal eagle remember a legal case
Sorry I cant be more precise.

Thanks

dmg24

I can't think of the case, but I am assuming the money was held in a trust, perhaps due to an inheritance?

dmg24

Do you know how recent the case was, and which court it reached?

You say it was made statute, do you mean that it was at a high enough court to become binding precedent, or that a bill was put through Parliament that eventually became law? x

a11waysindebt

The year was around 1950 I think.

It has become law or so a solicitor has told me.

The problem I have is a payout is due soon to 2 19 year olds.They have no sense of money and I wanted them to have monthly payments instead.I'm unable to stop them having the money as a lump sum.

dmg24

OK, it sounds like the money is currently held in trust for them.

Do you know who the executor for the trust is?

a11waysindebt

I was to be the trustee for them.Rather than me apply for a letter of administration "no will" the solicitor has decided they should now apply instead.

I've dealt with all the paperwork etc over 2 years and the running of a business,so contested the solicitors advice which caused a conflict of interest.I'm also to apply for testamentary expenses.

utterbar

Sounds like a Saunders v Vautier situation to me - if all the beneficiaries are over 18 and of sound mind and it's a bare trust they can dissolve the trust and take the money for themselves.

dmg24

That does sound complex, and it isn't an area that I am too familiar with.

I am just sorting out probate for my Gran's estate, but that is much more simple. However, there is a lot of information on the website for The Probate Service. Definitely worth a look x

dmg24

utterbar wrote: »

Sounds like a Saunders v Vautier situation to me - if all the beneficiaries are over 18 and of sound mind and it's a bare trust they can dissolve the trust and take the money for themselves.

Excellent recall (or a recent student/ practising in the area?)! x

utterbar

Practising but not in that area, it's just one of those things that stuck!

a11waysindebt

Thanks both,I will look up on this.

A shame really as I know the money isn't going to last long, but I am unable to stop the payment going through.