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  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
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