A woman executed a trust deed under which she declared that her brother would hold her shares in a private limited technology company on trust for her two children. The woman handed her share certificate to those shares to her brother. A week later, the woman died.
Are the shares held on trust for the children?

Question

A woman executed a trust deed under which she declared that her brother would hold her shares in a private limited technology company on trust for her two children. The woman handed her share certificate to those shares to her brother. A week later, the woman died. 
 Are the shares held on trust for the children?

Answer

No, because the woman has left everything to her sister in her will.

Answer

No, because there is no certainty of subject-matter in relation to the shares.

Answer

Yes, because the woman has satisfied the ‘every effort’ test.

Answer

Yes, because they are named as the beneficiaries to the shares in the trust deed.

Answer

No, because the brother does not have legal title to the shares and therefore cannot hold the shares as trustee.

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A woman executed a trust deed under which she declared that her brother would ho...

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