Payne Hicks Beach

Payne Hicks Beach

08 April 2021

Success for trustees with the use of section 32 of the Trustee Act 1925 (Womble Bond Dickinson Trust Company v Glenn)

Jessica Henson and Charlotte Henshall, Partner and Associate and leading trusts litigation lawyers at Payne Hicks Beach, acted, alongside Penelope Reed QC, for the successful trustees in the recently decided judgment of Womble Bond Dickinson (Trust Corporation) Limited & ors v Glenn & ors [2021] EWHC 624 (Ch). In this landmark trust law decision, the Court examined the use of the statutory power of advancement under section 32 of the Trustee Act 1925.  This statutory power still represents a vital source of authority for English trustees and, in this case, provided the key to unlocking capital funds which will now allow young adult beneficiaries to purchase first homes or otherwise invest prudently in their future. The decision represents a fantastic outcome for the clients but will also be of significant academic interest as one of the very few authorities in the last century clarifying the application of the statutory provision.

To read Jessica and Charlotte’s reflections on the case click here

10 New Square, Lincoln's Inn, London WC2A 3QG

DX 40 London/Chancery Lane
Tel: 020 7465 4300 Fax: 020 7465 4400

This publication is not intended to provide a comprehensive statement of the law and does not constitute legal advice and should not be considered as such. It is intended to highlight some issues current at the date of its preparation. Specific advice should always be taken in order to take account of individual circumstances and no person reading this article is regarded as a client of this firm in respect of any of its contents.

The firm is authorised and regulated by the Solicitors Regulation Authority: SRA Number 807106

© 2021 Payne Hicks Beach LLP


Back to Legal Updates Listing