| Commentary

39 Gibbon v Mitchell

| Commentary

39 Gibbon v Mitchell1

In Gibbon v Mitchell the plaintiff had a protected life interest under a settlement, and a limited power to appoint an annuity to a surviving spouse, and subject to that the capital was held on trust for his children. For tax planning reasons he wished his children’s interest in the fund to be accelerated and was advised that he could achieve this by surrendering his life interest. However, because the life interest was protected, a discretionary trust came into being2. The beneficiaries of this discretionary trust included all his children, whenever born, and not, as he

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