Trustees- Powers and Duties

Question 1

what is the statutory power of maintenance>

Answer 1

power to pay income for the maintenance, education or benefit of a minor beneficiary.
applies to
- vested, future interest,
- contingent interests which carry the intermediate income.

Question 2

what is the statutory power of advancement?

Answer 2

power to pay capital for the advancement of a beneficiary whose interest has not yet vested in possession. applies to
- adult and minor beneficiaries.
- vested, future interests.
- contingent interests.

Question 3

to whom should capital be paid for advancement>

Answer 3

if the beneficiary is an adult, the trustees can pay it directly to them but must ensure it has been used for the requested purpose.

Question 4

do they need consent?

Answer 4

yes of the beneficiaries with prior interest.

Question 5

does a trustee need authorisation to invest abroad?

Answer 5

yes!