Reply To: Trust Funds

#8757
Julian Hobson
Participant

9(1)(e) looks like it covers it.

I think its a bit cheeky too. If the will says what you say it says then you can’t add further conditions on occupation. I don’t think any liability to pay rent could be enforceable unless they were specified in the terms of the will, which presumably was used to set up and operate the trust.

I think there is also an issue about the terms of the will and the trust(s).

If there is one trust lets say with £200,000 and the will says buy her a house out of it. At the point the trust pays £100,000 to do that surely the daughter becomes the beneficiary and therefore the owner of the house in the same way as, If the trust gives her an income of £50.00 a week at the point it hands it over its hers to do with as she pleases.

Either she owns it or is still a beneficiary and excluded under 9(1)(e) subject to 1(1B).