Where a settlement was created before 6 April 2010, the trustees were only permitted to accumulate income received by them for a maximum of 21 years, due to section 164 of the Law of Property Act 1925, and section 13 of the Perpetuities and Accumulations Act 1964. For further details, see Practice Note: Perpetuities and accumulations. For settlements created on or after 6 April 2010, rule against excessive accumulations is abolished, so that trustees can accumulate income for the lifetime of the settlement, by virtue of Perpetuities and Accumulations Act 2009. Where the trustees of a discretionary trust are obliged to distribute income, they should have regard to any memorandum of wishes written by the settlor or consult