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Formality, perpetuity, and illegality: trust creation and public policy I
Hypothetical facts
Explain, with reasons, what formalities (if any) must be complied with in order to make the following actions valid and enforceable in a court of law?
(a) George, the freehold owner of Whitehouse, declares that he henceforth holds the legal title to Whitehouse on trust for his son, Junior.
(b) Tony, the sole life beneficiary under a trust set up by his father, gives notice to the trustees that he disclaims his interest in favour of his son, to whom the trustees should henceforth pay all the income from the trust.
(c) Robin, who died recently, left property to Patrick by his will, having previously informed Patrick that he should secretly hold the property as trustee for the benefit of Robin’s mistress.
(d) Bert is the sole beneficial owner of a number of shares held in trust for him by a trust company wholly owned and controlled by him for the last 20 years. He now decides to instruct the company to transfer the shares to his wife.