We were wondering if it was possible to Saunders v Vautier a will trust as the grandchild recently turned 18 to either allow the grandchild to request new trustees or wind it up.
The wording of the will is
‘To pay the residue to [the sole grandchild] on attaining 25 and I direct that my trustees shall maintain [the deceased’s residence] from the residue and I express the wish that they will fund [the grandchild] as necessary through university so that he does not graduate in debt.’ If the grandchild dies before the testator or before attaining 25 the residue is gifted to various friends.
Saunders v. Vautier only applies if all those interested are ascertainable and sui juris. Whilst the grandchild now has legal capacity, Saunders v. Vautier could only be applied if ALL those entitled should the grandchild fail to attain age 25 were also joined in any direction or other action.
Paul Saunders FCIB TEP
Independent Trust Consultant
Providing support and advice to fellow professionals