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Trustee power to apply capital: section 32 of Trustee Act 1925
Practical Law UK Practice Note 9-565-8489 (Approx. 12 pages)
Trustee power to apply capital: section 32 of Trustee Act 1925
A practice note explaining that section 32 of the Trustee Act 1925 gives trustees a power to apply capital, known as the statutory power of advancement, which applies to beneficiaries with interests in capital and must be applied for the advancement or benefit of the beneficiary. It discusses restrictions on the power and when to apply or exclude it.
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Resource ID 9-565-8489© 2024 Thomson Reuters. All rights reserved.