I have an estate where the testator has left the shares in their company to the children of their nieces in equal shares ‘or the survivors thereof as and when they attain the age of thirty years absolutely’. STEP 1st edition is included.
The children are aged between 10 and 22. The residue passes to three other adult beneficiaries in equal shares.
The trustees would like to advance the shares to the children now rather than wait until they fulfil the age contingency.
My question is, would be possible to advance the shares to the children who are 18+ and to the parents of the minors now? Provided of course the residuary beneficiaries agree as they should be entitled to the income.
Also I am concerned, whether the class has now been closed. In Blech v Blech the court held that children born after the death of the testatrix could benefit and that a literal interpretation of the words ‘shall survive me’ should not be adopted.
Any advice would be greatly appreciated. Thank you.