Q&As

A Will provides that the residue is to be held for such of X and Y as survive the deceased and attain the age of 18 and if more than one in equal shares. Can the trustees use the power of advancement under section 32 of the Trustee Act 1925 to benefit one beneficiary more than the other before the contingency is met, such that one beneficiary receives more from the estate than the other?

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Published on: 09 September 2022
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The statutory power of advancement in section 32 of the Trustee Act 1925, as amended by Inheritance and Trustees' Powers Act 2014, allows the trustees, if they wish, to bring forward (or, in other words, advance) all or any part of the beneficiary's prospective share of the capital. On a final distribution

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United Kingdom
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