Law 4170 - Trusts Law Assignment - Monash University

Assignment Task

Barbara Oppenheimer sold nuclear waste for re-use in children’s toys across the world. Having made a fortune thus, she began to feel guilty. So, Barbara decided to give some of her fortune away. On 1 January 2023, she emailed her solicitor, Kendle, stating that he was to be the trustee of a trust on the following terms.

1. My $1 billion AUD worth of bitcoin, which is to be sold immediately. The proceeds shall be held for the coolest ten people in Melbourne whose initials are also B.O. In default of appointment, the money is to go to my granddaughter, Sneezy McGee.

2. $ 1 billion AUD is to be used to ameliorate the situation of student apartment renters in Melbourne for five years. Thereafter, the money shall be for such of the residents of Victoria as my trustee sees fit.

3. 23% of my shares in BHP are to be held on trust for my grandson, Breezy McGee. Barbara has one million BHP shares.

4. $1 billion AUD shall, in part, be held for me, but the preponderance of it must be for Sneezy McGee.

Barbara then validly transferred both the shares and money to Kendle. (She completed the relevant share transfer form and filled out the books at BHP. She also wired the money to Kendle’s bank account.) Shen then found out that tickets for submersible trips to go see the Titanic wreck were being sold at a significant discount for some reason. Excited, she purchased one. Barbara flew across the world to embark on her journey but was never seen or heard from again.

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