I am winding up a life interest trust created by will in 1987. The life tenant has just died and I am tasked with distributing the remainder.
X% passing to the “Dean and Chapter” of a local Cathedral “for such purposes as they shall think fit”
X% passing to each of the “Vicar and Churchwardens” of two churches “for such purposes as they shall think fit”
I have just sat the Admin of Trusts module and am possibly being a little ‘OTT’… My very, very initial thoughts are that these are purpose trusts (?) - I think there is an argument that 1) might be charitable but I certainly do not think 2) is.
If these dispositions are invalid, I am minded to think that the sums fall into residue, or could we construe them as being absolute gifts?
Any views would be appreciated.