Elizabeth Hailstone
Barrister (From Issue 6,January 1999)
Mutual wills are apparently popular. Cases on the law of secret trusts are few and far between. Snell’s Equity 29th Edn at p108 states the fully secret trust principle thus:
“If a testator makes a gift of property to T without saying that he is to hold it on trust, and either before or after making his will tells T that he wishes him to hold the property on trust for P, T will be compelled to carry out the trust if T either expressly promises that he will do so or by silence implies it.”
The principle was applied to a non-testamentary disposition in Gold and Gilbert v Hill, reported in The Times on 24th August, 1998.
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The Trust Quarterly Review is published in partnership with STEP, it discusses matters of interest to trustees and executors with a focus on the particular interests of trust corporations in mind
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