Will Draft Includes Reference to Society of Trust and Estate Practitioners Provisions?

JamesP8

I am currently having a will drafted and the first received draft includes a reference to -

 'The standard and special provisions of the Society of Trust and Estate Practitioners (2nd edition) shall apply'.

I am not familiar with these provisions, but was wondering whether this is a standard inclusion in all wills and whether the provisions include anything, which may need to be considered please?

Any knowledge/thoughts would be gratefully received. Thank you.

Emmia

Who is drafting your will?

A solicitor? Or a will writing company?

It's curious they're referring to the second edition, as there is already a third edition out.

JamesP8

Thank you, a solicitor is drafting it.

Emmia

JamesP8 said:

Thank you, a solicitor is drafting it.

I've just checked my own (solicitor drafted) will, from 2020 and I have the same wording - but this is before the third edition was published. 

poseidon1

JamesP8 said:

I am currently having a will drafted and the first received draft includes a reference to -

 'The standard and special provisions of the Society of Trust and Estate Practitioners (2nd edition) shall apply'.

I am not familiar with these provisions, but was wondering whether this is a standard inclusion in all wills and whether the provisions include anything, which may need to be considered please?

Any knowledge/thoughts would be gratefully received. Thank you.

Prior to the production of STEP standard provisions it was very common for Wills incorporating trusts to run  to15, 20 or more pages depending on the type of trust. For the average client such wills were basically impossible to comprehend.  

By siloing those provisions in an off will document  ( the standard provisions ) the client can understand the main thrust of their testamentary wishes in the main body of the will without being distracted by the standard powers and statutory obligations imposed by trust law.. Therefore a very common inclusion in professionally drafted wills incorporating trusts.

See below the text of the third edition with accompany notes and guidance for the wills draftsman and the settlor client ;


https://www.enigmawillsandtrusts.co.uk/wp-content/uploads/2024/02/STEP-Standard-Provisions-3rd-Edition.pdf

JamesP8

Emmia said:

JamesP8 said:

Thank you, a solicitor is drafting it.

I've just checked my own (solicitor drafted) will, from 2020 and I have the same wording - but this is before the third edition was published. 

Thank you very much for this, I will ask them regarding the third edition.

JamesP8

poseidon1 said:

JamesP8 said:

I am currently having a will drafted and the first received draft includes a reference to -

 'The standard and special provisions of the Society of Trust and Estate Practitioners (2nd edition) shall apply'.

I am not familiar with these provisions, but was wondering whether this is a standard inclusion in all wills and whether the provisions include anything, which may need to be considered please?

Any knowledge/thoughts would be gratefully received. Thank you.

Prior to the production of STEP standard provisions it was very common for Wills incorporating trusts to run  to15, 20 or more pages depending on the type of trust. For the average client such wills were basically impossible to comprehend.  

By siloing those provisions in an off will document  ( the standard provisions ) the client can understand the main thrust of their testamentary wishes in the main body of the will without being distracted by the standard powers and statutory obligations imposed by trust law.. Therefore a very common inclusion in professionally drafted wills incorporating trusts.

See below the text of the third edition with accompany notes and guidance for the wills draftsman and the settlor client ;


https://www.enigmawillsandtrusts.co.uk/wp-content/uploads/2024/02/STEP-Standard-Provisions-3rd-Edition.pdf

Thank you very much. I will read through your linked information. I see your reference to wills incorporating trusts. My will doesn't include any trust arrangement(s). It's rather basic, with just named family executors in the event of both myself and my wife dying. I'm afraid my knowledge regarding wills is very limited, but in the absence of any trust arrangement are these STEP standard and special provisions still applicable? Thanks again.

poseidon1

JamesP8 said:

poseidon1 said:

JamesP8 said:

I am currently having a will drafted and the first received draft includes a reference to -

 'The standard and special provisions of the Society of Trust and Estate Practitioners (2nd edition) shall apply'.

I am not familiar with these provisions, but was wondering whether this is a standard inclusion in all wills and whether the provisions include anything, which may need to be considered please?

Any knowledge/thoughts would be gratefully received. Thank you.

Prior to the production of STEP standard provisions it was very common for Wills incorporating trusts to run  to15, 20 or more pages depending on the type of trust. For the average client such wills were basically impossible to comprehend.  

By siloing those provisions in an off will document  ( the standard provisions ) the client can understand the main thrust of their testamentary wishes in the main body of the will without being distracted by the standard powers and statutory obligations imposed by trust law.. Therefore a very common inclusion in professionally drafted wills incorporating trusts.

See below the text of the third edition with accompany notes and guidance for the wills draftsman and the settlor client ;


https://www.enigmawillsandtrusts.co.uk/wp-content/uploads/2024/02/STEP-Standard-Provisions-3rd-Edition.pdf

Thank you very much. I will read through your linked information. I see your reference to wills incorporating trusts. My will doesn't include any trust arrangement(s). It's rather basic, with just named family executors in the event of both myself and my wife dying. I'm afraid my knowledge regarding wills is very limited, but in the absence of any trust arrangement are these STEP standard and special provisions still applicable? Thanks again.

It would be unusual to incorporate the STEP provisions where the will is completely devoid of any intention for trusts to be created.

 However, under the terms of your Will is it possible for anyone under age 18  (such as minor grandchildren ) to inherit were you to die tomorrow and your wife predecease you? 

My impression is that most people who provide for minors to inherit from their estate , are unaware this gives rise  to statutory trusts for the children concerned, which leaves the Will executors in the invidious position of a continuing trust for the minors but no overt trustee powers  to facilate administration other than those specified in the Trustee Act 1925 and a hotch pot of trust case law. The STEP provisions aim to fill that gap.

If there is no express or implied provision for minors in your will, you should certainly ask the solicitor the reason for inclusion of STEP provisions in your case.

JamesP8

poseidon1 said:

JamesP8 said:

poseidon1 said:

JamesP8 said:

I am currently having a will drafted and the first received draft includes a reference to -

 'The standard and special provisions of the Society of Trust and Estate Practitioners (2nd edition) shall apply'.

I am not familiar with these provisions, but was wondering whether this is a standard inclusion in all wills and whether the provisions include anything, which may need to be considered please?

Any knowledge/thoughts would be gratefully received. Thank you.

Prior to the production of STEP standard provisions it was very common for Wills incorporating trusts to run  to15, 20 or more pages depending on the type of trust. For the average client such wills were basically impossible to comprehend.  

By siloing those provisions in an off will document  ( the standard provisions ) the client can understand the main thrust of their testamentary wishes in the main body of the will without being distracted by the standard powers and statutory obligations imposed by trust law.. Therefore a very common inclusion in professionally drafted wills incorporating trusts.

See below the text of the third edition with accompany notes and guidance for the wills draftsman and the settlor client ;


https://www.enigmawillsandtrusts.co.uk/wp-content/uploads/2024/02/STEP-Standard-Provisions-3rd-Edition.pdf

Thank you very much. I will read through your linked information. I see your reference to wills incorporating trusts. My will doesn't include any trust arrangement(s). It's rather basic, with just named family executors in the event of both myself and my wife dying. I'm afraid my knowledge regarding wills is very limited, but in the absence of any trust arrangement are these STEP standard and special provisions still applicable? Thanks again.

It would be unusual to incorporate the STEP provisions where the will is completely devoid of any intention for trusts to be created.

 However, under the terms of your Will is it possible for anyone under age 18  (such as minor grandchildren ) to inherit were you to die tomorrow and your wife predecease you? 

My impression is that most people who provide for minors to inherit from their estate , are unaware this gives rise  to statutory trusts for the children concerned, which leaves the Will executors in the invidious position of a continuing trust for the minors but no overt trustee powers  to facilate administration other than those specified in the Trustee Act 1925 and a hotch pot of trust case law. The STEP provisions aim to fill that gap.

If there is no express or implied provision for minors in your will, you should certainly ask the solicitor the reason for inclusion of STEP provisions in your case.

Thanks again, that's very helpful. Within the draft will I do have an arrangement where, should one of my children die, following my death and let's say for simplicity, at the same time as that of my wife, then the (grandchildren) children of that child, would receive the relevant child's share. The grandchildren are currently minors, so perhaps this is the reason for the provisions. I will clarify it further with the solicitor involved. Greatly appreciate your help today.

poseidon1

JamesP8 said:

poseidon1 said:

JamesP8 said:

poseidon1 said:

JamesP8 said:

I am currently having a will drafted and the first received draft includes a reference to -

 'The standard and special provisions of the Society of Trust and Estate Practitioners (2nd edition) shall apply'.

I am not familiar with these provisions, but was wondering whether this is a standard inclusion in all wills and whether the provisions include anything, which may need to be considered please?

Any knowledge/thoughts would be gratefully received. Thank you.

Prior to the production of STEP standard provisions it was very common for Wills incorporating trusts to run  to15, 20 or more pages depending on the type of trust. For the average client such wills were basically impossible to comprehend.  

By siloing those provisions in an off will document  ( the standard provisions ) the client can understand the main thrust of their testamentary wishes in the main body of the will without being distracted by the standard powers and statutory obligations imposed by trust law.. Therefore a very common inclusion in professionally drafted wills incorporating trusts.

See below the text of the third edition with accompany notes and guidance for the wills draftsman and the settlor client ;


https://www.enigmawillsandtrusts.co.uk/wp-content/uploads/2024/02/STEP-Standard-Provisions-3rd-Edition.pdf

Thank you very much. I will read through your linked information. I see your reference to wills incorporating trusts. My will doesn't include any trust arrangement(s). It's rather basic, with just named family executors in the event of both myself and my wife dying. I'm afraid my knowledge regarding wills is very limited, but in the absence of any trust arrangement are these STEP standard and special provisions still applicable? Thanks again.

It would be unusual to incorporate the STEP provisions where the will is completely devoid of any intention for trusts to be created.

 However, under the terms of your Will is it possible for anyone under age 18  (such as minor grandchildren ) to inherit were you to die tomorrow and your wife predecease you? 

My impression is that most people who provide for minors to inherit from their estate , are unaware this gives rise  to statutory trusts for the children concerned, which leaves the Will executors in the invidious position of a continuing trust for the minors but no overt trustee powers  to facilate administration other than those specified in the Trustee Act 1925 and a hotch pot of trust case law. The STEP provisions aim to fill that gap.

If there is no express or implied provision for minors in your will, you should certainly ask the solicitor the reason for inclusion of STEP provisions in your case.

Thanks again, that's very helpful. Within the draft will I do have an arrangement where, should one of my children die, following my death and let's say for simplicity, at the same time as that of my wife, then the (grandchildren) children of that child, would receive the relevant child's share. The grandchildren are currently minors, so perhaps this is the reason for the provisions. I will clarify it further with the solicitor involved. Greatly appreciate your help today.

Does indeed appear the solicitor was sensible by invoking the STEP provisions in the remote circumstances you have outlined.

There are many solicitors who have overlooked this precaution for clients wills which  provide benefits for minors.  Some of the executors  thereof, have ended up on this forum questioning what  duties and obligations are  owed to the minors,  where the will is entirely silent on the point.