Hostname: page-component-78c5997874-t5tsf Total loading time: 0 Render date: 2024-11-19T23:25:07.378Z Has data issue: false hasContentIssue false
  • English
  • Français

The Apportionment of a Trust Fund: A Review of the Problem in Modern Conditions

Published online by Cambridge University Press:  18 August 2016

W. P. Goodchild
Get access Rights & Permissions [Opens in a new window]

Extract

This paper is mainly concerned with the division of a trust fund between the beneficiaries, when an actuary is asked for a solution which, in his opinion, is fair to all parties concerned. It may be that the beneficiaries are all sui juris and form a closed class, in which case they approach the actuary as umpire, and adopt a passive role, at least until they have considered the implications of his recommendations. Alternatively, the actuary's report may be required to assist the Court to approve a scheme involving beneficiaries, e.g. infants, whom it is the Court's object to protect. In that case the actuary's role—as discussed later in the paper—is rather different, but it may still be necessary for him to state what in his judgment would be an impartial solution.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 88 , Issue 3 , December 1962 , pp. 264 - 318
Copyright
Copyright © Institute and Faculty of Actuaries 1962

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

(1) Jellicoe, C. On the valuation of property held for life and in reversion; and on the due apportionment of it, when so held on the same life, between the tenant for life and the remainder-man. J.I.A. 6, 61.Google Scholar
(2) Baden, A. On the equitable apportionment of a fund between the life tenant and the reversioner. J.I.A. 16, 269.Google Scholar
(3) Sprague, T. B. On the apportionment, or division by mutual consent, of a fund between the life tenant and the reversioner. J.I.A. 18, 77.Google Scholar
(4) Thurston, O. I'A. Notes on death duties (with special reference to reversions) and on the valuation of reversions for estate duty purposes, etc. J.I.A. 66, 369.Google Scholar
(5) Anderson, R. D. Apportionment of a trust fund between life tenant and reversioner. J.I.A. 56, 243.Google Scholar
(6) Benz, N. Valuation of reversions and life interests for the purpose of apportionment of trust funds. J.I.A. 81, 150.Google Scholar
(7) Goodchild, W. P. The apportionment of a trust fund by mutual consent of all the beneficiaries. J.S.S. 9, 52.Google Scholar
(8) Phillips, William. Amalgamated income tax. [1961] British Tax Review, 240.Google Scholar
(9) Swift, T. F. Notes on recent statutes: Variation of Trusts Act, 1958; Estate duty—Finance Act, 1958. J.I.A. 85, 87.Google Scholar
(10) Bayley, G. V. Terminating a settlement. Solicitors' Journal, Vol. 102, no. 32 (9. viii. 58).Google Scholar
(11) Goodchild, W. P. & Bayley, G. V. Finance Act, 1958, section 28. Purchase of interests in expectancy. J.I.A. 85, 65.Google Scholar