Trust instruments are bespoke, prepared according to the particular settlor’s wishes, and as such the terms of a trust will provide who can benefit, how, when and to what extent.
The below is a summary of the common types of appointment, considerations to be taken in to account before making an appointment and some common issues faced by trustees in relation to appointments under both fixed interest trusts (i.e. where the settlor specifically identifies which beneficiaries are to benefit and expressly stipulates how and when they are to enjoy the trust property) and discretionary trusts (i.e. where trustees have “discretion” as to how they exercise their powers, who to benefit, when and to what extent.
For more specific advice on trusts in Jersey, we invite you to contact David Dorgan, Head of Private Client & Trusts, Jersey.