Kepkey v Edwards [2017] NSWSC 925

Supreme Court New South Wales

Medium Neutral Citation: Kepkey v Edwards [2017] NSWSC 925 Hearing dates: 5 July 2017 Date of orders: 05 July 2017 Decision date: 05 July 2017 Jurisdiction: Equity Before: Emmett AJA Decision: 1. Order, pursuant to s 93(3) of the Trustee Act 1925 (NSW), that the Defendant's costs of and incidental to these proceedings be paid from the trust funds (the trust) held by the Defendant pursuant to Clause 4 of the Will of the late Gwenneth Holmes Edwards (the "deceased") on the indemnity basis.

2. Make no order as to the Plaintiff's costs, to the intent that she will bear her own costs of the proceedings.

3. Note the agreement of the parties that the Defendant will exercise his absolute discretion pursuant to Clause 4.1 of the Will of the deceased, to apply the capital and income of the trust fund for the maintenance, education, support, advancement and benefit of the Plaintiff in, and only in, the following manner:

(a) By payment to the Plaintiff of the lump sum of $60,000 within 28 days of the date of these orders;

(b) By payment to the Plaintiff, on the anniversary of the payment referred to in 3(a) above, of one half of the trust funds then remaining; and,

(c) By payment to the Plaintiff, on the anniversary of the payment referred to in 3(b) above, of the whole of the trust funds then remaining.

4. Note the agreement of the parties that:

(a) The Plaintiff will desist from contacting the Defendant, or causing letters to be sent to his solicitors, in relation to the trust held pursuant to Clause 4 of the Will of the deceased or the administration of the trust except, and only in the circumstance, that any of the payments referred to in Paragraph 3 above are outstanding for more than 7 days from the due date; and