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JGM
JGM, Solicitor
Category: Family Law
Satisfied Customers: 11860
Experience:  30 years as a practising solicitor. Partner in own firm.
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Can the settelor of a UK discretionary trust take the money

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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.
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.

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