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Dewar v Inland Revenue [1931] UKHL TC_16_84 (11 May 1931)

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Dewar v IRC [1931] AC 566, [1931] UKHL TC_16_84 11 May 1931

Under a deed of trust a father made over funds to trustees, directing them to take out an educational endowment assurance policy on the life of his daughter, born in 1927, to provide an annuity for four years from the date when she attained the age oj fifteen. The premiums on the policy were to absorb practically tiuTwIiole trust income. The trustees were to apply the annuity and any income of the trust funds for the daughter’s education and advancement from the date of her attaining the age of fifteen until she ivas tioenty-one, when the funds in trust were to be transferred to her absolutely. In the event of the daughter dying before attaining the age of twenty-one the trust funds were to revert to the father.
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