Extras

Question 1

When does the 6 year statutory limitation period run from ?

Answer 1

From turning 18 or when tenant falls into possession ( when life tenant dies)

Question 2

If retiring and leaving two trustees what is required ?

Answer 2

A deed

Question 3

How to identify valid purpose trusts ?

Answer 3

Does it offend perpetuity ? - if yes then is it charitable ? - if not then it’s invalid

Question 4

What are the rules around trustees getting remunerations ?

Answer 4

Professional trustees can if it is in writing + consent from other trustees + reasonable

Question 5

What is true for trusts of land or chattels ?

Answer 5

Chattels - must actually give it to them or deed

Land - declared in writing to be valid

Question 6

Is self dealing voidable ?

Answer 6

Yes within a reasonable time

Question 7

What income are adult contingent beneficiaries entitled to ?

Answer 7

They are entitled to income as and when it arises