Does the Cleardocs Discretionary Trust deed allow for a church as a beneficiary?
The Cleardocs Discretionary Trust deed allows for distributions to churches as eligible beneficiaries: • if the church is a charity; or • if the church is a legal entity and the trustee exercises its power to nominate the church as a beneficiary of the trust (for the purpose of receiving distributions). If you have an existing discretionary trust, then the trustee may exercise its power to nominate a church or churches as an additional class of eligible beneficiaries. The trustee should first seek legal advice on potential resettlement issues before exercising the power. If you have not yet established the discretionary trust you may wish to add a church or churches as a class of eligible beneficiaries before executing the deed. Maddocks can provide you with a quote to prepare an appropriate amendment.
