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LW601 Equity and Trusts

Task:
Answer the question below:
 
Frank, a retired professional footballer, who had enjoyed an esteemed career playing in the Premier League and at International level for England, passed away earlier this year, five years after being diagnosed with a terminal illness. 
 
Consequently, he was able to make arrangements in relation to his estate and to ensure he was able to look after his loved ones. He drew up a Will, appointing Caleb, his long-serving agent, and Josh, his lawyer of almost 20 years, to act as his joint trustees. Frank made the following dispositions:

1. Frank bequeathed four (4) freehold properties ‘to my wife, Julie: a country manor in High Wycombe; a cottage in Leicester; a mansion in Birmingham and a townhouse in Manchester, ‘to share between my three children as she shall deem either necessary or appropriate’.

2. Frank bequeathed three Premier League winners’ medals from his considerable collection of trophies and memorabilia: ‘to my trustees, to hold on trust for my siblings. My brother, Steven, should have the one he prefers, and the other should go to my sister, Kate’. Steven died a few days after Frank and did not have the opportunity to make his choice.

3. In the last few years of his life, Frank built up a large portfolio of stocks and shares - some more profitable than others. In his Will, Frank bequeathed the income from ‘my top-performing shares to my trustees', in order to ensure his former personal trainer, David, 'could continue to enjoy a reasonably comfortable lifestyle.’

This assignment has been designed to provide you with an opportunity to demonstrate your achievement of the following module learning outcomes:

1. Analyse and evaluate key cases and statutes, identifying principal rules by applying techniques of interpretation to them.

2. Explain the key principle and rules of the law of Equity and Trusts.

3. Apply those rules to complex factual situations and produce a reasoned judgement of possible outcomes
 
4. Evaluate doctrinal and conceptual difficulties and analyse alternative approaches and outcomes and areas of uncertainty

5. Write and speak in fluent English using legal terminology with accuracy and produce text with footnotes, references and appropriate formatting using standard software package

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