Q&As

Precedent: Discretionary Trust does not include the apportionment clause. Will this clause automatically apply or does it revert to the Society of Trust and Estate Practitioners (STEP) provisions? Should the deed also refer specifically to STEP provisions?

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Published on LexisPSL on 24/09/2020

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

  • Precedent: Discretionary Trust does not include the apportionment clause. Will this clause automatically apply or does it revert to the Society of Trust and Estate Practitioners (STEP) provisions? Should the deed also refer specifically to STEP provisions?

Precedent: Discretionary Trust does not include the apportionment clause. Will this clause automatically apply or does it revert to the Society of Trust and Estate Practitioners (STEP) provisions? Should the deed also refer specifically to STEP provisions?

Precedent: Discretionary trust does not include an apportionment clause as the Trusts (Capital and Income) Act 2013 (T(CI)A 2013) abolished the apportionment rules for trusts created on or after 1 October 2013 (save for some rules that apply in limited circumstances).

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