Legal News

Testamentary exercise of powers of appointment (Equiom v Velarde)

Published on: 12 January 2022
Published by: LexisPSL
  • Testamentary exercise of powers of appointment (Equiom v Velarde)
  • What are the practical implications of this case?
  • What was the background?
  • What did the court decide?
  • Case details

Article summary

Private Client analysis: The judge upheld on appeal the decision of Deputy Master Dray that a residuary gift in a Will demonstrated an intention not only to exercise a testamentary power of appointment conferred on the testatrix, Mrs Moores, by a settlement but also an intention to revoke a previous revocable appointment in different terms made by Mrs Moores by deed. It is accepted that express revocation of a revocable appointment made by deed is not required and may be implied from the terms and circumstances of a subsequent appointment. The question whether a residuary gift in general terms which shows an intention to exercise a power also impliedly revokes a previous revocable appointment has been considered in no more than four reported cases in the last 170 years. This decision is important because it addresses that question in detail. Written by Rodney Stewart Smith, barrister, at New Square Chambers, Lincoln’s Inn. or take a trial to read the full analysis.

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