Equity and trusts assignment (law) Essay Example | Topics and Well Written Essays - 3000 words

Equity and trusts assignment (law) - Essay Example Sadhia owns 1,000 shares in Yorkshire Water and owns and runs a retail clothes shop. She also owns a number of freehold commercial properties in Bradford and London, in addition to a cottage in Devon and a cottage in Scotland. Sadhia is admitted to hospital shortly before the anticipated birth of the baby because her symptoms of infection were widespread and she needed constant medical care; she was advised by her consultant that she only has a few weeks to live. She calls her brother and her eldest children Irfan and Safeena to a family meeting in the hospital at which she says she wishes them both to take over the retail shop and run it together. Sadhia also says that Irfan is to have her recently acquired Audi estate car. 6. I give to my husband the balance standing to the credit of my Barclays bank account for his sole use and what is left or that he no longer needs shall be held on trust for the children in equal shares. 9.I give to my trustees my collection of original Indian prints upon trust for sale and I direct that they should allow any member of my family to choose one of the paintings before the collection is sold. In order to be able to advise the parties with regard to the dispositions in the will and the trust deed it is necessary to consider which of the bequests can be regarded as valid and which might fail due to having not been properly constituted. In an express trust the person making the bequest must adhere to certain formalities in order for the will and the trust document to be regarded as valid. In relation to determining the validity of the will an the trust deed the court will need to consider whether the requirement of the three certainties has been satisfied. One of the first considerations that will be made by the court will be in respect of the capacity of the person making the will. This is governed by the Family Law