Powers to advance and maintenance

Question 1

Minor beneficiary wants to advance income from trust

Answer 1

• for maintenance and benefit
• up to trustees discretion
• beneficiary must have absolute entitled (not remainderman)

Question 2

Adult beneficiary wants to advance income from trust

Answer 2

trustees MUST advance income

Question 3

For a minor beneficiary, who do trustees pay advanced income/capital to?

Answer 3

Parent/Guardian/School provider for example

Question 4

Minor beneficiary wants advance on capitaL?

Answer 4

• life tenant’s written and informed consent first
• before 1 oct 2014 - advance half
• after 1 oct 2014 - advance full
• trustee discretion

Question 5

Adult beneficiary wants advancement on capital?

Answer 5

Trustees MUST advance