Interpretation, Alteration and Revocation

Question 1

What are beneficial interest for the mother and nephews in the following trust:

'’The Trustees shall hold the Trust Fund on trust for my mother for life, remainder to my two nephews”

One nephew is aged 21 years; the other nephew is aged 16 years.

Answer 1

Mother : Possessory interest in income;
Nephews have a vested but postponed interest in capital.

Question 2

Ways in which a gift can fail:

Answer 2

-Uncertainty
-Lapse (Dying before the testator)
-Adeemed (testator no longer owns it at death)
-Beneficiary/spouse witnesses the will
-Disclaimer (refusing the gift)
- Forfeiture (not benefitting from your own crime)
- Divorce/dissolution (treated as though you are dead legally)

Question 3

Ways to ensure someone does not benefit from the client’s estate/will?

Answer 3

-Making a new will
-Making a codicil (ammend a will)
-Revocation by destruction (tearing or burning it)
-Alteration (cancelling name out to the point it’s obliterated)
-By marriage/civil partnership

Question 4

2 things needed for revocation to happen

Answer 4

Intention to revoke and done by the testator

Question 5

Does divorce revoke a willl?

Answer 5

No but the gift to them fails