Husband and wife have one adult son. Following advice from their accountant they wish to create a Discretionary Trust. They have no grandchildren and they only want their son to benefit from the Trust. A property will be transferred into the Trust and in a few years time it will be appointed out of the Trust to the son.
The question I have is whether a Discretionary Trust can be created with only the one discretionary beneficiary named in the Trust.
There will be provision in the Trust for additional beneficiaries to be added if necessary eg death of son.
Progressive Wills Ltd.