Deed of Assignment and Appointment?

Trusts Discussion
1

I am instructed to bring a trust that was originally created in 1986 to an end. We have obtained tax advice and the most tax efficient way to do this is by assigning both of the bonds held by the trust to the two beneficiaries.

I am completing the necessary Deeds of Assignment with the financial organisations to do this - is a Deed of Appointment also required for this? I have prepared a separate Trustee Resolution detailing how the Trustees have come to their decision and what has taken place

Many thanks in advance

2

You need to look at the trust deed.

If any appointment must be made by deed, this should be explicitly stated.

If the trust deed does not specify that an appointment must be made by deed, a simple trustee resolution should be sufficient.

Paul Saunders FCIB TEP

Independent Trust Consultant

Providing support and advice to fellow professionals