Skye Turbill was an ardent lover of ferrets Skye lived in a mansion on East Point Road, Fannie Bay, Northern Territory, which she owned outright Skye lived with her 5 ferrets and her best friend Kerry Skye passed away Skye's estate consisted of the following House on East Point Road 2,000,000 Superannuation Benefit payable to estate 1,000,000 Term Deposit with Commonwealth Bank 8,000,000 Shares in BHP 4,000,000 total 15,000,000 Skye left a valid will which provided as follows Kerry was to be her trustee and executor Her house on East Point Road was given to my trustees upon trust to be used as a refuge for abandoned ferrets of Fannie Bay $1,000,000 00 to Charles Darwin University to provide a yearly scholarship to a student who is studying veterinary science $12,000,000 to be held on trust by Kerry on the following terms The beneficiaries were defined as all Aboriginal people who are members of the traditional clans of and permanently resident within a 20klm radius of Fannie Bay and their successor generations The trust is to be held an applied exclusively for the construction of a cultural and spiritual education centre to preserve, promote and educate the public in the traditions and culture of the local Aboriginal clans Two years after Skye had passed away, you are informed of the following Devastated by the loss of Skye, Kerry comforted herself by going to the Casino each day from 10am until 10pm to drink and gamble Suffice to say, Kerry was now an alcoholic and gambling addict and had been for over 12 months Kerry has taken no steps to administer the trusts and has not transferred any property or assets of Skye's estate into her name Kerry has continued to reside in the East Point Road property which was owned by Skye, without paying any contribute towards rent or upkeep of the property, but she has continued to care for Skye's 5 ferrets during this time Advise the beneficiaries of Skye's will regarding possible breaches by Kerry in the exercise of her powers, duties and discretion and what remedies may be available to them

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 03, 2024

Skye Turbill was an ardent lover of ferrets. Skye lived in a mansion on East Point Road, Fannie Bay, Northern Territory, which she owned outright.

Skye Turbill was an ardent lover of ferrets. Skye lived in a mansion on East Point Road, Fannie Bay, Northern Territory, which she owned outright. Skye lived with her 5 ferrets and her best friend Kerry.

Skye passed away. Skye's estate consisted of the following:

House on East Point Road	2,000,000
Superannuation Benefit payable to estate	1,000,000
Term Deposit with Commonwealth Bank	8,000,000
Shares in BHP	4,000,000
total	15,000,000

Skye left a valid will which provided as follows:

Kerry was to be her trustee and executor
Her house on East Point Road was given "to my trustees upon trust" to be used as a refuge for abandoned ferrets of Fannie Bay.
$1,000,000.00 to Charles Darwin University to provide a yearly scholarship to a student who is studying veterinary science.
$12,000,000 to be held on trust by Kerry on the following terms:
1. The beneficiaries were defined as all Aboriginal people who are members of the traditional clans of and permanently resident within a 20klm radius of Fannie Bay and their successor generations.
2. The trust is to be held an applied exclusively for the construction of a cultural and spiritual education centre to preserve, promote and educate the public in the traditions and culture of the local Aboriginal clans.

Two years after Skye had passed away, you are informed of the following:

Devastated by the loss of Skye, Kerry comforted herself by going to the Casino each day from 10am until 10pm to drink and gamble.Suffice to say, Kerry was now an alcoholic and gambling addict and had been for over 12 months.
Kerry has taken no steps to administer the trusts and has not transferred any property or assets of Skye's estate into her name.
Kerry has continued to reside in the East Point Road property which was owned by Skye, without paying any contribute towards rent or upkeep of the property, but she has continued to care for Skye's 5 ferrets during this time.

Advise the beneficiaries of Skye's will regarding possible breaches by Kerry in the exercise of her powers, duties and discretion and what remedies may be available to them.