Thellusson v Woodford
Once upon a time, a long, long time ago in England, a man named Peter Thellusson had lots and lots of money, and he wanted his money to be saved for his babies, and their babies, and even their babies' babies. This was a really different way of doing things, because normally when a person died, their money was split up and given to their family members right away.
Peter Thellusson wrote in his will that he wanted his money to be saved for as long as possible. He said that nobody could spend any of the money for at least 100 years after he died. That is a really long time! He also said that the money should be used only for his family members, and not for anyone else.
After Peter Thellusson died, his family members tried to follow his wishes, but some people thought that it was not fair. They thought that there were lots of other people who needed money right away, and that it was not kind to keep all of the money for just one family.
So, a man named John Woodford decided to go to court to argue about Peter Thellusson's will. He said that Peter Thellusson's wishes were not legal, because nobody should be able to control their money for so many years after they die. That is like trying to tell people what to do from beyond the grave!
After a really long time, the court decided that John Woodford was right. They said that Peter Thellusson's will was not fair or legal, because it tried to control the money for too long and only for one family. So, they changed the rules about how much control a person can have over their money after they die.
Now, people can still leave their money to their families, but they can't control it forever and ever. They have to give it away within a certain amount of time. That way, more people can benefit from the money, not just one family. And that is the story of the Thellusson v Woodford court case!
Peter Thellusson wrote in his will that he wanted his money to be saved for as long as possible. He said that nobody could spend any of the money for at least 100 years after he died. That is a really long time! He also said that the money should be used only for his family members, and not for anyone else.
After Peter Thellusson died, his family members tried to follow his wishes, but some people thought that it was not fair. They thought that there were lots of other people who needed money right away, and that it was not kind to keep all of the money for just one family.
So, a man named John Woodford decided to go to court to argue about Peter Thellusson's will. He said that Peter Thellusson's wishes were not legal, because nobody should be able to control their money for so many years after they die. That is like trying to tell people what to do from beyond the grave!
After a really long time, the court decided that John Woodford was right. They said that Peter Thellusson's will was not fair or legal, because it tried to control the money for too long and only for one family. So, they changed the rules about how much control a person can have over their money after they die.
Now, people can still leave their money to their families, but they can't control it forever and ever. They have to give it away within a certain amount of time. That way, more people can benefit from the money, not just one family. And that is the story of the Thellusson v Woodford court case!