I have a 1951 lifetime settlement where the life tenant wishes to raise a small amount of capital (5%) – no powers to advance capital from the settlement – Could she raise this capital by way of a deed of
partial termination of her life interest in favour of the remainderman (her son) utilising S.32 - assuming Son will then give the money to her.
If the son’s interest is vested then a better solution might be if he will assign 5% of his interest to the life tenant - so that the life tenant becomes absolutely entitled to 5% of the trust fund.