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sSQL = sSQL & "Articles.Article_Content, Articles.Article_Posted, Articles.Article_Comments, "
sSQL = sSQL & "Articles.Article_Images, Categories.Category_ID, Categories.Category_Title, Users.User_ID, "
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sSQL = sSQL & "INNER JOIN FB_Articles AS Articles ON Categories.Category_ID = Articles.Article_Category_ID) "
sSQL = sSQL & "ON Users.User_ID = Articles.Article_User_ID WHERE Article_Status = 1 AND Article_Level = 0 "
sSQL = sSQL & "ORDER BY Article_Posted DESC;"
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Married Women’s Property act 1882
Section 11 of the act enables a person to create a trust over a life insurance policy simply by expressing it to be for the benefit of a spouse or children.
The policy must be arranged by the man on his own life or a woman on her own life. The proposer does not have to be married to use the provisions in the act. The act only applies to England and Wales but the proposer does not have to be domiciled here.
Does not apply to joint life policies and the policy must be a policy on a life insured so can not be an annuity or income protection insurance. If a joint life trust is required then a specific joint life trust policy would need to be formed and this would not be by way of the act and would therefore be a non-statutory trust.
The policy must be expressed as being for the benefit of husband, wife or children. The policy can provide for other benefits as well as the life cover ( Gladitz v Gladitz.).
If the details fit the criteria then a valid trust is formed under the act.
Under the act the class of beneficiaries is restricted to wife and children. The term ‘Children’ does not include stepchildren or grandchildren but does include illegitimate children from 1 st January 1970 (Family Law Reform Act 1969).
Beneficiaries can be named or unnamed and set as a class. If relationship is named only then the words used will have to be looked at carefully to determine exactly who the beneficiary is.
In Re Collier 1930 the policy was for the benefit of the wife, but mentioned no name. The wife died before the life insured and so when the policy claim came about there was no wife in existence and therefore no trust.
In Re Brown’s policy, Re Browne v Browne 1903 the policy was for the benefit of the wife and children. The first wife died and the husband remarried and the second wife also had children. Held the trust was for the wife (second and still living) and all the children.
In Cousins v Sun Life Insurance Society 1933 the policy specifically named the wife by name. The wife died and the husband tried to surrender the policy which had been effected under the act. Held that as the wife was specifically named the wife and her estate had a vested interest in the policy from the date it was taken out and that interest existed after her death.
Modern policies tend to name the wife/husband beneficiary but with the increase in divorces having an unnamed wife/husband could prove advantageous.
As illustrated above, if the life policy is affected under the act and if the wife is specifically named the interest in the policy is there from the outset. In the event of divorce the parties can approach the divorce court under the Matrimonial Proceeding and Property Act 1970 to have the beneficiaries under the policy amended and the partner’s interest deleted.
Trust wordings under the act can make it a provision that children reach the age of majority or survive the life insured.
When drawing up the trust wording consideration needs to be given if any child beneficiaries are to be from the marriage as it is exists at the time or also to include children from any future marriage or all children. The words ‘children’ if used unqualified will also include illegitimate children.
A power of appointment trust can be created under the act as long as the class of potential beneficiaries is limited as prescribed under the act.