Examination Timing: 00H01M01S
Michael, a company director, left a will stating that his estate is to be held on trust to pay the income to his daughter, Emily, for her life, and after her death, to be divided among all the present and former employees of his company. Emily, unhappy with the terms of the will, consults a solicitor to ask whether the gift is valid. She is concerned that the terms are unworkable, even though she has a complete list of past and present employees of the company but is unsure if all of them can be traced. Which of the following statements provides the best advice regarding the gift?
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The gift is valid because there is a complete record of past and present employees of the company. In this case, Emily has a complete list of beneficiaries, which makes the class of beneficiaries sufficiently certain. The fact that some beneficiaries might be difficult to trace does not necessarily render the trust invalid. The trust can be administered based on the list, and efforts can be made to locate the beneficiaries.
Key Point: For a trust to be valid, the class of beneficiaries must be certain, which means it must be possible to determine who is included in the class. In this scenario, having a complete record of past and present employees ensures that the beneficiaries can be identified with sufficient certainty. This principle is fundamental in the law of trusts to ensure that the trust can be effectively administered.
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