The Weekly Law Reports
[1968] 2 WLR 1385
[COURT OF APPEAL]
In re
LEEK, DECD.
DARWEN (BARON) v. LEEK AND OTHERS
1967 Dec. 6,
7,
8,
11,
20
HARMAN, RUSSELL and SACHS L.JJ.
Trusts
— Discretionary
— Power of selection
— Insurance policy moneys
— Trust for benefit of such one or more of class as trustees in absolute discretion “shall decide”
— Wife, children or other issue or such persons as had a “moral claim” on deceased
— “Failing them” for statutory next-of-kin
— Whether duty to select
— Whether discretionary power
— Whether void for uncertainty
— Whether power to create interests outside perpetuity period
— Premiums on policy paid by employing company
— Assured employee's salary reduced by amount of premium
— Forfeiture of benefits to advantage of company in certain circumstances
— Whether trust for estate of deceased employee
— Whether resulting trust for company.
Trusts
— Uncertainty, void for
— Discretionary power to select
— Power coupled with duty
— Benefit of one or more of wife, children or other issue or persons as trustees consider to have a “moral claim” on deceased
— “Failing them” for statutory next-of-kin
— Whether potential beneficiaries sufficiently defined.
Perpetuity Rule
— Discretionary trusts
— Power of selection
— Discretionary power to apply life assurance policy money
— “Benefit of wife, children or other issue”
— “Or failing them” for statutory next-of-kin
— No particular period specified for executive of power of selection
— Whether must be executed within reasonable period
— Whether void for perpetuity.
Law Reform
— Whether necessary
— Trusts
— Trust void for uncertainty
— Court no power to “blue pencil” offending words
— Desirability of legislation.