SUMMARISE IN POINT FORM:
-In cases where a testamentary trust is established, questions about the interpretation of the will may arise. In such situations, the law of the testator's domicile, which is the standard law for interpreting a will, will be used.
- This principle was established in cases like Ex parte Courtenay Selous School Parent Teachers Association and Wynn NO and Westminster Bank Ltd NO v Oppenheimer and Others.
-Similarly, when it comes to trusts created while the settlor is alive, the interpretation of the trust deed will be governed by the law of that deed, which may be different from the law governing the administration of the trust.
-In cases where the administration of a trust involving movable assets is involved, the location of administration is crucial.
-Despite potential challenges when the location of the trust property differs from the location of administration, it is generally accepted that the location of administration should prevail.
- If the trust deed allows for a change in the location of administration, this will also mean a change in the governing law of the trust administration.
-This was exemplified in the case of Fattorini v Johannesburg Board of Executors & Trust Co Ltd where it was ruled that the founder intended for the new trustees in a different location to administer the assets according to the law of that country.
- The law of the testator's domicile is used to interpret a testamentary trust
- The law of the trust deed governs the interpretation of a trust created while the settlor is alive
- The location of administration is crucial for trusts involving movable assets
- The location of administration typically prevails over the location of the trust property
- A change in the location of administration may result in a change in the governing law of the trust administration
- The case of Fattorini v Johannesburg Board of Executors & Trust Co Ltd exemplified a change in the governing law of trust administration when trustees were moved to a different location.