Overview
While it is widely understood that a trust can be valid only if it has an object, when it comes to discretionary trusts, the beneficial class can be incredibly broad and many members of the class are unaware that they have a right to be considered for an entitlement under a trust. That then begs a questions: To what extent are trustees obliged to notify members of the class of potential objects of the existence of the trust?
In the latest issue of ThoughtLeaders4 Private Client McDermott’s Private Client lawyers Nicholas Holland and Anita Franklin explore the obligations of trustees to notify discretionary beneficiaries of their interest in a trust.
