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?

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 members, have the power to vote in accordance with the articles of association of the company. Be

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