Contents of Wills—rules of apportionment


Published by a ³ÉÈËÓ°Òô Private Client expert
Practice notes

Contents of Wills—rules of apportionment


Published by a ³ÉÈËÓ°Òô Private Client expert

Practice notes
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The rules of apportionment should be considered at the moment of drafting the Will. Whenever a Will creates a trust, some rules of apportionment may be applied or excluded unless they have been dealt with expressly in the wording of the Will.

Essentially, the purpose of the apportionment rules is to strike a balance between those interested in the capital of the trust (the remaindermen) and those interested in the income derived from that capital (the life tenant). These rules have been set out in cases and by statute.

In the main, the reasoning behind the rules was that a testator, had they thought about it, would probably have wanted the trustees to maintain that balance. Therefore, equity intervened to presume that intention on behalf of the testator. As the principle of apportionment was always to be presumed, there was no necessity to seek any evidence of intention to include the rule (although evidence would be needed to dispel the presumption).

Trusts (Capital and Income) Act 2013

The relevance of the rules had been under scrutiny after

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United Kingdom
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Key definition:
Rules definition
What does Rules mean?

The detailed provisions of a pension scheme.

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