Q&As

Can the trustees of a discretionary Will trust transfer some of the assets out of the trust into a new trust that they have set up for some of the beneficiaries?

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Published on LexisPSL on 09/10/2019

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

  • Can the trustees of a discretionary Will trust transfer some of the assets out of the trust into a new trust that they have set up for some of the beneficiaries?

A discretionary trust would usually include wide powers for the trustees to appoint that funds or assets are held on such terms as the trustees think fit for one or more of the members of the class of beneficiaries. There may also be a specific power to transfer all or part of the trust fund to another settlement, provided that the beneficiaries of that other settlement only comprise one or more of the beneficiaries of the first settlement, but if that specific power does not appear, the power of appointment contained in the first trust may

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