Q&As

A discretionary Will trust owns shares in a private company. The trustees are considering appointing the shares to a life interest trust, but do not want to give the life tenant voting rights. Who has voting rights if: a) the shares are retained on discretionary trust, or b) the shares are appointed to a life interest trust?

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Published on LexisPSL on 29/07/2020

The following Private Client Q&A provides comprehensive and up to date legal information covering:

  • A discretionary Will trust owns shares in a private company. The trustees are considering appointing the shares to a life interest trust, but do not want to give the life tenant voting rights. Who has voting rights if: a) the shares are retained on discretionary trust, or b) the shares are appointed to a life interest trust?

A discretionary Will trust owns shares in a private company. The trustees are considering appointing the shares to a life interest trust, but do not want to give the life tenant voting rights. Who has voting rights if: a) the shares are retained on discretionary trust, or b) the shares are appointed to a life interest trust?

Only members who are registered in a company’s register of members may exercise voting rights over shares which carry voting rights. The trustees, as legal owners of the shares, will, if duly registered as

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