My understanding of this will

g6jns_2

Mtl2015 wrote: »

Ahh thats what i thought, Wikipedia confused me with this;

"A bare trust (sometimes referred to as a simple trust or mandatory trust) is a trust in which the beneficiary has a right to both income and capital and may call for both to be remitted into his own name.[1]
A simple trust requires that any income it receives be distributed within the tax period it is earned. This is opposite to a complex trust where the funds are not required to be paid out right away, so it can keep gaining income without having to distribute the money or property."

Sadly this just illustrates the folly of relying on an an Internet artcle without being aware of the complexities of trust law. Trust law is the most complicated area of law. Even many High Street solicitors don't fully understand trust law. You realy need a specialist such as a member of STEP to get advice on the technicalities. Trying to DIY it is very risky. Do not rely on advice from this or any other website.