I've got the power – I think?
Specific terms of each trust deed are important – always
check what does the deed actually say?
Has the trust been varied, or the proper law changed?
The title of a supplemental deed can be misleading – check
that no changes to the trust have been made alongside, e.g. an
addition of beneficiary.
How do I exercise my power?
Example formal requirements:
- By deed – i.e. a written
resolution is not enough
- Consent – e.g. prior written
consent of a Protector needed
- Whose power is it? – the
Trustees, a Protector, some other named third party?
- Unanimous decision or by majority
where more than one trustee?
- Proper law – what is the
governing law of the trust and how does that impact upon the powers
and liabilities of the Trustees?
