Most well drawn settlements give trustees a power to accept additions to the trust - but can they in the absence of such a power ? I have a trust where trustees have a specific power to accept more investments in the settled OEIC - but can they accept other assets ? (They do have a power to vary/diversify investments.
My understanding is that trustees can validly accept additions to a trust, regardless of whether there is a specific power to do so.
The issue, though, is whether, for tax purposes, the addition forms part of the existing trust or is a separate “settlement” held on like terms, even if settled by the original settlor.