For the purposes of the rule against perpetuities, a power of advancement is analogous to a special power of appointment1. If the statutory power of advancement2 is exercised by trustees of a trust instrument in favour of a minor by way of settlement, the new trusts must be read back into the original trust instrument3. The rule by which, in the case of a special power of appointment, the perpetuity period is calculated from the date of the creation of the power4 applies; and, if the new trusts would have infringed the rule against perpetuities if contained in the
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234