My grandfather (Settlor) conveyed, granted and transferred one of his self acquired immovable properties to my grandmother (Trustee) by a registered and stamped Deed of Settlement, for the absolute benefit of the Trustee and with full rights to transfer, sell and make gift.
Subsequently after a few years my grandmother made a Joint Will (unregistered) with her husband wherein it is said that upon their death all their properties are conveyed, granted and transferred to a Board of Trustees, comprising their five sons and two daughters. Further similar to previous case this is for the absolute benefit of the Board of Trustees with full rights to transfer, sell and make gift. Additionally there are some restrictions given in this Will regarding the Settlors properties.
Also in this Will, my father has been given the majority of the premises to enjoy, so the other Trustees are disputing this Will on the pretext that my grandmother could not have opted for this testamentary Trust when there is already a Trust running. What I think is that the first Trust was for the lifetime of my grandmother and it would have extinguished anyway upon her death so creating a Trust for after her death is valid.
Today both the Settlors as well as all their children are expired and we are the designated Trustees in the present generation from the Will. This Will has now been submitted for probate when controversies arose but it is being contested.
Now my questions are:
1. Is the Will valid?
2. Are the trustees here only usufructs of the property? Also are the trustees a cestui qui Trust?
3. Can Trustees have any official share in the property or are mere beneficiaries (naked owners) since property has been bequethed to the Board of Trustees?