s.30Statutory trusts
30
Section 30Part 0 —

Statutory trusts

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Where, by this Act, the residuary estate of an intestate, or any part thereof, is directed to be held on the statutory trusts for the issue of the intestate, the same shall be held upon the following trusts —
in trust in equal shares if more than one, for all or any of the children or child of the intestate, surviving the intestate, who attain the age of eighteen years or marry or enter into a civil partnership under that age, and for all or any of the issue surviving the intestate who attain the age of eighteen years or marry or enter into a civil partnership under that age of any child of the intestate who predeceases that intestate, such issue to take through all degrees according to their stocks, in equal shares if more than one, the share which their parent would have taken if living at the death of the intestate, and so that no issue shall take whose parent is living at the death of the intestate and so capable of taking;
the statutory provisions which relate to maintenance and accumulation of surplus income shall apply, but where a person under the age of eighteen years marries or enters into a civil partnership, such person shall be entitled to give valid receipts for the income of that person’s share or interest;
where the property held on the statutory trusts for issue is divided into shares, then any money or property which, by way of advancement or on the marriage or the entering into a civil partnership of a child of the intestate has been paid to such child by the intestate or settled by the intestate for the benefit of such child (including any life or less interest and including property covenanted to be paid or settled) shall, subject to any contrary intention expressed or appearing from the circumstances of the case, be taken as being so paid or settled in or towards satisfaction of the share of such child or the share which such child would have taken if living at the death of the intestate, and shall be brought into account, at a valuation (the value to be reckoned as at the death of the intestate), in accordance with the requirements of the personal representatives; and
the personal representatives may permit any child under the age of eighteen years contingently interested to have the use and enjoyment of any personal chattels in such manner and subject to such conditions (if any) as the personal representatives may consider reasonable, and without being liable to account for any consequential loss.
If the trusts in favour of the issue of the intestate fail by reason of no child or other issue attaining an absolutely vested interest —
the residuary estate of the intestate and the income thereof and all statutory accumulations, if any, of the income thereof, or so much thereof as has not been paid or applied under any power affecting the same, shall go, devolve and be held under this Act as if the intestate had died without leaving issue surviving the intestate;
references to the intestate “leaving no issue” shall for the purpose of this section and section 29 be construed as “leaving no issue who attain an absolutely vested interest”; and
references in this section and section 29 to the intestate “leaving issue” shall be construed as “leaving issue who attain an absolutely vested interest”.
Where under this Act the residuary estate of an intestate or any part thereof is directed to be held on the statutory trusts for any class of relatives of the intestate, other than issue of the intestate, the same shall be held on trusts corresponding to the statutory trusts for the issue of the intestate (other than the provision for bringing any money or property into account) as if such trusts (other than the aforesaid) were repeated with the substitution of references to the members or member of the class for references to the children or child of the intestate.

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