Good morning everyone
I have been asked to look at a settlement that was created in 2014 by a different firm. It’s a standard discretionary trust for the family of the settlor. There is a clause that says “exclusion of Settlor and Spouse” which fails to exclude the spouse. It says:
“Notwithstanding anything else in this settlement, no power conferred by this settlement shall be exercisable, and no provision shall operate so as to allow trust property or its income to become payable to or applicable for the benefit of the Settlor of the estate or the legal personal representatives of the Settlor in any circumstances whatsoever”.
The Settlor does not at present have a spouse, but does have a long term partner, who is mentioned in the document. I do not believe they have any intention of marrying, but do forum members foresee any problems with this through the omission of the exclusion, given the theoretical possibility of a spouse becoming entitled.
Mayo Wynne Baxter