Whilst there is a Common Law presumption that the original trustees can exercise their powers to benefit themselves if they are within the class of beneficiaries, this must be subject to there being no provision within the trust instrument which conflicts with the Common Law presumption.
When specific provisions are incorporated into the trust instrument, whether that is a trust deed or a will, which conflict with the Common Law principle, to my mind these displace the Common Law position and need to be strictly complied with.
Paul Saunders FCIB TEP
Independent Trust Consultant
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