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ARTICLE · 10 MAY 2022

In The Matter Of The K Trust [2020 GLR 312]

Carey Olsen
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The Guernsey Court of Appeal's discussion in this case is helpful for practitioners and trustees alike as to the meaning of the commonly used word 'share' in a trust instrument.

GuernseyLitigation, Mediation & Arbitration
Nina Clift
Nina Clift
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The Guernsey Court of Appeal's discussion in this case is helpful for practitioners and trustees alike as to the meaning of the commonly used word 'share' in a trust instrument.

The settlor had established two trusts, the K Trust and the A Trust, to provide for his spouse and infant twin daughters. His spouse was the principal beneficiary of the A Trust.

The K Trust instrument stated that the trustees "will apply", at their discretion, a "notional split" of the Trust Fund in line with the settlor's wish that his daughters benefitted equally as far as possible. If a daughter died without children surviving her, the trustees were to distribute her "share...as determined" by transferring half to the A Trust and half to the surviving daughter's 'share' of the K Trust.

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