In this episode of SQE1 Essentials, we break down the types of beneficial interests under English trust law — a core component of the SQE1 syllabus and vital for understanding trust structures, beneficiary entitlements, and trustee powers.
🎯 Topics covered:
Capital vs income: what beneficiaries may be entitled to receive
Vested interests vs contingent interests, and how s.31 of the Trustee Act 1925 affects minors' income
Successive interests: life tenants, remaindermen, and future interests
The principle of Saunders v Vautier – when beneficiaries can collapse the trust
Types of trusts: ▪️ Fixed trusts – requiring a complete list of beneficiaries (IRC v Broadway Cottages) ▪️ Discretionary trusts – governed by the “is or is not” test (McPhail v Doulton) and clarified in Re Baden (No. 2) ▪️ Bare trusts – absolute entitlement with no discretion
Trustee obligations under the Trustee Act 2000, including the duty of impartiality (Nestle v NatWest)
📘 By the end of this episode, you’ll be able to distinguish between trust structures and accurately map out beneficiary rights in a range of scenarios.
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