I have a NRB trust will, which the trustees would like to wind up and appoint the assets to the spouse absolutely.
There is no explicit power of appointment in the Will, at least in the form that I am used to and I believe the closest will be power of advancement.
“The Trustees shall hold funds … for not more than 80 years,To apply the capital of the Trust Fund …or income for the benefit of such of my beneficiaries as the trustees think fit etc…”
Will this be sufficient to set out in the deed of appointment? STEP provisions 1st edition apply but again I cannot see anything explicit. I am happy to be proven wrong!
Once the trust is wound up, on spouse’s death we would like to be able to claim both NRBs so it’s imperative it is done properly.
Many thanks
Kirsty Cartwright
St Helens Law