I am acting for clients in connection with administering her husband’s estate. Under the terms of the Will there is a nil rate band discretionary trust and the clients wish to implement the trust. The bulk of the estate is made up of the property, deceased share £232,500 and thus it would be practical to leave the money owed to the nil rate fund outstanding, as a debt or charge on the property passing to the surviving spouse. The problem is that there is no express power to make the debt or charge arrangements under the terms of the Will Trust. There is, however, an overriding power of appointment under the Will Trust. I understand that the power of appointment can be used to alter administrative provisions.
I am trying to search for a precedent Deed of Appointment to alter the administrative provisions to include a power to make the debt/charge arrangements but cannot find such a precedent.
I should be grateful for any assistance and guidance on this matter.
Thomas Boyd Whyte