"Injustice" of current Trust laws

[Perry]

The reasonable expectation is that the couple (not only the beneficiary) will become
vested owners or cash equivalent in the fullness of time. When the beneficiary decides
love isn't forever and they part - at that moment the expectation is cancelled for the
spouse who has to go down the road.

That's sort-of what I'm getting at. As a Trust is valid for 70 (?) years from inception
and almost always those who would have been heritors under a Will have been clas-
sified as discretionary beneficiaries, I see that as having a marked impact on any
expectations, reasonable or otherwise. (Ordinarily, the children would be added to
the list of discretionary beneficiaries.

Simple example: parent's trust buys a small farm for son and daughter-in-law to live
on and work. The couple own the stock and plant, pay any mortgage outgoings etc,
and are told that if they work hard eventually one day all of this will be theirs. Children
come along, both husband and wife share the farm work and rearing the children, the
property gets new fencing, sheds are rebuilt, gorse cleared etc etc - it is a joint enterprise.

But after 12 years the marriage falters and they separate with very little relationship
property for the wife. She claims under S 182 and patiently waits until her parents-in-law
get fed up and make an offer.

Further, as Wayne observes, if there are a number of discretionary beneficiaries who
are children or grandchildren, then the Trust would have multiple interested party
discretionary beneficiaries to consider.

Using your farm example, let's say that most of the Trust's assets are the example
farm and income from the lease of that farm is used to make distributions to other
discretionary beneficiaries of the Trust. They would be most disgruntled to see half
of the Trust's capital asset disappear off with an ex-in-law, reducing their annual
discretionary distribution. Very messy.

[Ivan McIntosh]

I wasn't aware they had an eyesight-impaired selection of models at Victoria Secret.

Presumably all the kinky goings-on have led to the failure of vision. Or at least that was what I was told as a boy.