How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask JGM Your Own Question
JGM, Solicitor
Category: Family Law
Satisfied Customers: 11554
Experience:  30 years as a practising solicitor. Partner in own firm.
Type Your Family Law Question Here...
JGM is online now

Can the settelor of a UK discretionary trust take the money

Resolved Question:

Can the settelor of a UK discretionary trust take the money back. They are currently also a trustee and hold proscribed consent. The trusts are around 20 years old and as far as I'm aware the wording of the trust is fairly standard.
Submitted: 3 years ago.
Category: Family Law
Expert:  JGM replied 3 years ago.
Thank you for your question.

Typically a discretionary trust is irrevocable so no, the settlor can't take the money back, trustee or not. If the settlor / trustee is also named as a beneficiary, the trustees may agree a payment to him if the payment is within the trust purposes.

I hope this helps. Please leave a positive response so that I am credited for my time.
JGM and other Family Law Specialists are ready to help you