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F E Smith
F E Smith, Advocate
Category: Law
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Experience:  I have been practising for 30 years.
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Dear Sirs, please tell me where to find a template discretionary

Customer Question

Dear Sirs, please tell me where to find a template for a discretionary trust for the benefit of a class of potential beneficiaries, e.g., the descendants of Mr and Mrs X. Thank you very much, Anthony Salzman
Submitted: 8 months ago.
Category: Law
Expert:  Nicola-mod replied 7 months ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 7 months ago.
Please continue
Expert:  Nicola-mod replied 7 months ago.
Hello,
We will continue to look for a Professional to assist you.
Thank you for your patience,
Nicola
Expert:  F E Smith replied 7 months ago.
Be very careful with the class of beneficiaries you mention because if you make the class too wide then it can be void for uncertainty. You need to be more specific than simply state “descendants”.Here are a variety of trust deeds from insurance companies which you may well have seen from the Internet. You could take the wording from these and redact it to suit your own circumstances which is what solicitors do when they are working from a precedent.http://www.legalandgeneral.com/_resources/pdfs/life-cover/trust-information/Discretionary-Trust-Form.pdf https://library.friendslife.com/DT_deed_XIM.DT.DEED.pdf https://www.zurich.co.uk/internet/zurichintermediary/Documents/121467.pdfIs this the kind of thing that you are looking for?Can I clarify anything for youBest wishes
Customer: replied 7 months ago.
Dear Sir, thank you very much for your help. I am hoping you might make the reply more immediately usable by preselecting what you consider to be a good template. Reminder, we need to form a discretionary trust. We do not want to name any beneficiaries, leaving the selection solely to the trustees. I was told that "the descendants of Mr. and Mrs. X" is sufficient. However, your reply suggests that it does not work because it is too vague. I do not understand why something as precise as the descendants of specified people would be too vague. Are you sure? Best regards, Tony
Customer: replied 7 months ago.
It is essential for my purpose to be able to state the beneficiaries as a class of people, actually any of the children of two specified interview , Or spouses of the children, or children of the children or their spouses (i.e. grandchildren). Since this question is the crux of our issue, your deeper thoughts would be appreciated. Also, if there is any clear legal precedent that would be good to have together with your suggested template. Again, thank you very much for your help. Best regards, Tony
Expert:  F E Smith replied 7 months ago.
Ultimately, what you don’t want is an argument at a later stage which is why you’re better off specifying particular categories such as children, grandchildren and great-grandchildren and any issue thereof. It’s just a feeling that I have that I prefer the precision of the specified categories. I wouldn’t want the argument later on in court.Without knowing what you want to do, it’s very difficult to send you a precedent and to draft the precedent would actually be several hours work. Because of the potentials of getting this wrong I would urge you to get it done by a solicitor because if they make a mess of it, at least the beneficiaries have someone to sue.Solicitors will take a template (precedent) and then change it to suit the circumstances which is why they charge several hundred pounds for drafting these kind of deeds.

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