Legacies to minors

Just to confirm, do members agree that the power to pay capital to minors under cl.18.1 of the STEP admin provision (2nd Ed) includes power to pay an outright pecuniary legacy (and is not limited to capital under actual trusts):

18 Minors and beneficiaries without capacity:
powers over trust capital
18.1 Where the Trustees may apply capital for the benefit of
a minor, they may do so by paying the capital to the minor’s
parent or guardian on behalf of the minor…

It helps that “Trust” includes “…an estate of a deceased Person to which
the [Standard Provisions] relate”

The definition of “Trustee” includes a personal representative so, yes.

Paul Saunders FCIB TEP

Independent Trust Consultant

Providing support and advice to fellow professionals