Question what happens in a discretionary trust if the appointer dies and the trustee does not distribute anything to the beneficiaries when you have an extremely big amount of money sitting there do you have any rights or am I wasting my time. thanks
If the Appointor (god) dies then the next Appointor, as set out in the Trust Deed takes over. The Appointor tells the Trustee what to do and when to do it. If for some strange reason the Trust Deed (and any variations of the Trust Deed) is silent on who the next Appointor is then either the Trustee is seized of that power (again under the terms of the trust deed) or the Trustee will need to apply to the court to have a new Appointor appointed.
Question what happens in a discretionary trust if the appointer dies and the trustee does not distribute anything to the beneficiaries when you have an extremely big amount of money sitting there do you have any rights or am I wasting my time. thanks
lordbergerlad 2 years ago
If the Appointor (god) dies then the next Appointor, as set out in the Trust Deed takes over. The Appointor tells the Trustee what to do and when to do it. If for some strange reason the Trust Deed (and any variations of the Trust Deed) is silent on who the next Appointor is then either the Trustee is seized of that power (again under the terms of the trust deed) or the Trustee will need to apply to the court to have a new Appointor appointed.
Brett Davies
LawCentralVideo 2 years ago