Writing interesting stories about trusts can be hard work – and hard reading. For a change, here is a lighter hearted look at trust deeds.
It is very important to read trust deeds before signing – and later to see if the passage of time means that amendments are necessary. Sometimes the reader might be rewarded to discover, perhaps surprisingly that the trustees must all be sea life. In the case of Foote v Foote the trust deed included a clause that said “If the Trustees are not anemones …”
“In this case it is clear that neither Mr nor Mrs Foote are anemones. Nor plainly, in the circumstances, are they unanimous, which I think is the word intended by the draftsperson.”