I act in respect of a Settlement where the definitions clause that the Vesting Date is 60 years from the date of the Settlement, which was made in October 1964. However, there is no perpetuity period set.
Assuming that the power of appointment in the Settlement Deed allows the resettlement of the Trust Fund, is it possible to appoint the trust funds on new trusts to expire in October 2044, thereby extending the lifetime of the Settlement?
Are there any other issues to be aware or beware of?
Graeme Lindop
Probate Consultant
Coles Miller Solicitors LLP