The Standard Provisions of the Society of Trust and Estate Practitioners
The Standard Provisions of the Society of Trust and Estate Practitioners

The following Private Client practice note provides comprehensive and up to date legal information covering:

  • The Standard Provisions of the Society of Trust and Estate Practitioners
  • Trustees' powers
  • The Standard Provisions of the Society of Trust And Estate Practitioners (1st Edition)
  • Background to the Standard Provisions
  • The Standard Provisions of the Society of Trust And Estate Practitioners (2nd Edition)

Trustees' powers

As trusts can arise by operation of law as well as by way of express trusts, the law must provide implied powers to enable trustees to carry out their task. The trustee's implied powers include, for example:

  1. advancements

  2. delegation

  3. insurance

  4. investment

  5. maintenance

  6. buying and selling land

In creating express trusts it is common to amend the implied powers and to add to them.

The Standard Provisions of the Society of Trust And Estate Practitioners (1st Edition)

Background to the Standard Provisions

The Society of Trust and Estate Practitioners (STEP) was founded in 1991. It commissioned James Kessler QC to produce some routine administrative clauses that could be incorporated into settlements and Wills by reference, to enable those documents to be shortened and simplified. These provisions are known as the Society of Trust and Estate Practitioners Standard Provisions (1st Edition)

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