Hi Everyone,
I have a client who set up a Fidelity “off-the-shelf” bare trust for his niece a few years ago. The niece is past the age of absolute entitlement but has not called for the trust fund yet. The niece has some learning difficulties so cannot quite understand the concept/implications of the trust. The trustees would therefore like to transfer the funds to a Vulnerable Persons Trust. There are no provisions in the trust deed that allow them to transfer funds to another settlement and my assumption is that this would require the consent of the beneficiary but I wonder if anyone might have come across this in the past.
Thank you,
Max