Income, Capital

Question 1

A beneficiary is entitled to the trust at 21. They are 18 and they want money for their salary/social life [income]. Can this be given?

Answer 1

Yes

• Over 18
• No life tenant
• Paid income

Question 2

A beneficiary is entitled to the trust at 21. The nephew has recently passed his driving test and has asked for £25,000 to buy a new car.

Answer 2

No

• Over 18
• Not yet reached the age of 21
• Not for advancement, or benefit
  – Cannot advance capital