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EQUITY LAW - Is this a discretionary trust of power of appointment?
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Hi guys!
I'm unsure whether this is a discretionary trust or power of appointment?
I leave the bulk of £200,000 in cash to my sister Fiona, who shall be trustee. It is my wish, that Fiona distributes it between my two sons, x and x as she sees fit. In the meantime, she may pay a reasonable income from the investment of the money to any of my friends who volunteer at the County Animal Rescue Centre, but may consider those who have volunteered the longest as animal rescuers as being the most deserving;
Can someone help me and explain how you distinguish between the two🤨
I'm unsure whether this is a discretionary trust or power of appointment?
I leave the bulk of £200,000 in cash to my sister Fiona, who shall be trustee. It is my wish, that Fiona distributes it between my two sons, x and x as she sees fit. In the meantime, she may pay a reasonable income from the investment of the money to any of my friends who volunteer at the County Animal Rescue Centre, but may consider those who have volunteered the longest as animal rescuers as being the most deserving;
Can someone help me and explain how you distinguish between the two🤨
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(Original post by brooksxx)
Hi guys!
I'm unsure whether this is a discretionary trust or power of appointment?
I leave the bulk of £200,000 in cash to my sister Fiona, who shall be trustee. It is my wish, that Fiona distributes it between my two sons, x and x as she sees fit. In the meantime, she may pay a reasonable income from the investment of the money to any of my friends who volunteer at the County Animal Rescue Centre, but may consider those who have volunteered the longest as animal rescuers as being the most deserving;
Can someone help me and explain how you distinguish between the two🤨
Hi guys!
I'm unsure whether this is a discretionary trust or power of appointment?
I leave the bulk of £200,000 in cash to my sister Fiona, who shall be trustee. It is my wish, that Fiona distributes it between my two sons, x and x as she sees fit. In the meantime, she may pay a reasonable income from the investment of the money to any of my friends who volunteer at the County Animal Rescue Centre, but may consider those who have volunteered the longest as animal rescuers as being the most deserving;
Can someone help me and explain how you distinguish between the two🤨
However, you would only really need to do this if there is an issue relating to certainty of objects. What about subject matter?
Last edited by Lawschoolhack; 1 month ago
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