One trust or two?

One trust or two?

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An individual dies leaving 20% of the residue of his estate in equal 10% shares to each of two minor grandchildren, to be held on trust on their behalf until their majority (which will be on different dates). Each child obtains absolute entitlement to his respective 10% share when he reaches majority, and there is no discretion to vary their 10% shares one in favour of the other. Neither has a claim on the other's 10% share should one die before reaching majority.

Are there two trusts/settlements, or one trust with two beneficiaries? If there is not enough info from the above, can you say what is likely to be the case, and what missing information would likely decide the matter?

Thanks
Clint Westwood

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By AnonymousUser
21st Feb 2007 10:43

No probs, think I have found it ..
At manual ref CG33304

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