Commentary

165 Professional trustee charging clause

CHARITIES AND CHARITABLE GIVING vol 6(2)

165 Professional trustee charging clause

165 Professional trustee charging clause

While it has long been standard practice to provide a professional trustee charging clause in a private trust (including a will trust), some circumspection is desirable when drawing up such a provision in a charitable trust, so that it does not appear that the charity exists partially for the benefit of the professional trustee1. Such a clause forms an exception to the general rule that a trustee may not benefit from his trust which, subject to the limited statutory power of remuneration for trustees of charities2 (and any regulations made by

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial