Re Gulbenkian’s Settlements [1970]
![Re Gulbenkian’s Settlements [1970]](https://images.unsplash.com/photo-1707779491270-0d33fc005c21?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=M3wxMTc3M3wwfDF8c2VhcmNofDE3fHxpbnN1cmFuY2UlMjB8ZW58MHx8fHwxNzM2NzYxNzA1fDA&ixlib=rb-4.0.3&q=80&w=1200)
Key Notes
• Lord Upjohn's Leading Judgment: In Re Gulbenkian’s Settlements, Lord Upjohn reaffirmed that the test for certainty of beneficiaries in discretionary trusts was the "list certainty" test, requiring a definite list of beneficiaries.
• Transition to McPhail: This case served as a stepping stone towards the development of the McPhail test, which later relaxed the requirements for certainty in discretionary trusts.
• The ruling in Re Gulbenkian held importance in shaping the approach towards the identification of beneficiaries in discretionary trusts, paving the way for McPhail’s more lenient standard.