Klee leaves all of his substantial estate to Tweedledum and Tweedledee upon trust for Wanda for life, and on her death to be divided between their three children Eeeny (aged 21), Meeny (aged 17), and Miney (aged 12) equally.
Eeny has started business as a landscaping contractor and would like an advancement to purchase a mechanical excavator. Which of the following statements about the statutory power of advancement is true?

Question

Quizplus · Accepted Answer

According to Section 32 of the Trustee Act 1925, the trustees have a statutory power of advancement and can advance a portion of the beneficiaries' share. However, in this case, since the trust is for the benefit of Wanda for life, the trustees can only use this power with Wanda's consent. Therefore, option C is correct. Option A is incorrect because Eeny is not entitled to an immediate one-third share of the trust fund as the trust is for the benefit of Wanda for life. Option B is incorrect because the trustees cannot advance Eeny without the consent of Wanda. Option D is incorrect as the consent of all beneficiaries is not necessary in this case.

Klee Leaves All of His Substantial Estate to Tweedledum and Tweedledee