Where a bequest is made only to such members of a class as shall have attained a particular age, a person who has not attained that age cannot have a vested interest in the legacy.
Illustration:
A fund is bequeathed to such of the children of A as shall attain the age of 18, with a direction that, while any child of A shall be under the age of 18, the income of the share, to which it may be presumed he will be eventually entitled, shall be applied for his maintenance and education. No child of A who is under the age of 18 has a vested interest in the bequest.
Legal Commentary & Landmark Judgments: Section 121
Section 121 governs the vesting of interest in a bequest made to such members of a class as shall have attained a particular age, establishing when the interest becomes vested or remains contingent.
In drafting testamentary trusts for minor grandchildren, counsel should specify whether interim income may be applied for education and maintenance; absent an express direction, Section 121 freezes the fund until each grandchild achieves the designated age.