By his Will, a testator who died last year in the Bahamas, appointed Madison and Raymond to be his executors and trustees, and left his estate, consisting of freehold, leasehold and shares
The Case: By his Will, a testator who died last year in the Bahamas, appointed Madison and Raymond to
be his executors and trustees, and left his estate, consisting of freehold, leasehold and shares in limited
companies upon trust for his brothers who are of full age and wish the trust to continue. Madison has
been living in the USA for the last two months and although she intends to remain ordinarily resident in
the Bahamas, she has intimated that in the future she will spend a considerable amount of time in the
USA so that she can attend to her business interest there. Raymond wishes to appoint Jordan in the place
of Madison but the three beneficiaries wishes Madison to remain or Peter to be appointed in her place.
Advise Raymond:
(i) Who has the power to decide on the person to be appointed as replacement trustee;
(ii) By what method the appointment can be made; and
(iii) Whether Madison can resist her being replaced
SECTION 2
Case Study Question: When Glenroy became seriously ill, he was admitted to hospital and later called his
three daughter, Elaine, Marie and Amelia to his bedside. Glenroy held the belief that he was on the brink
of death and handed to Amelia share certificates representing 400 shares in Mount Sinai Ltd and a
completed share transfer form, telling Amelia that the share was hers, “when I’m gone”. To Marie, he
kissed her hand and said “if I die, you can have my Mercedes Benz 2019 car. Here is the key and the Title
is in my safe. Your mother has a spare key and the safe code, but she’ll need to use the car to visit me in
the hospital until then.” Elaine was the youngest of his children, she looked at him and cried, he stated,
“I’d like you to have the balance of money in my credit union deposit account, my bank book is in my
briefcase at the foot of the bed and here is the recent statement of account, it should have all the
information you need.” At the end of their visit the daughters went home. That same night, a huge
earthquake caused the total collapse of the hospital and Glenroy was killed instantly. Advise the daughters
on the effect of the actions and statements made by their father to them prior to his death that night.
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