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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11567
Experience:  30 years as a practising solicitor.
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My father (deceased) was the beneficiary of a trust fund set

Resolved Question:

My father (deceased) was the beneficiary of a trust fund set up by his grandfather for the benefit of his family. My father effectively capitalised his shares in the trust in the late 1960s and ceased to enjoy dividends from the trust. I know the trust is still in existence (my cousins are receiving dividends) and want to know if my brother and I are eligible to be beneficiaries even though our father came out of the scheme
Submitted: 2 years ago.
Category: Scots Law
Expert:  JGM replied 2 years ago.
Thank you for your question.
Whether you are eligible to be beneficiaries depends on what the trust actually says. If a descendent's right to be included as a beneficiary is dependent on succession through the generations then I would suggest that your father has ended that by capitalising that share of the trust due to him and his descendents.
On the other hand if the trust provides for descendents as a separate class of beneficiary then you may have a right to claim.
The trust deed and the other documents would have to examined.
I hope this helps. Please leave a positive response so that I am credited for my time.
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