A power, introduced by the Trustee Act 2000, that allows trustees to make any kind of investment that they could make if they were absolutely entitled to the assets of the trust fund. Previously, trustees were only permitted to make certain authorized investments. There are still some restrictions on investments in land.
An irrevocable trust is a type of trust that cannot be altered, amended, or terminated without the consent of the beneficiary or beneficiaries. It is typically set up to provide asset protection and tax benefits.
A trust fund created to provide financial maintenance for another while securing it with restrictions to guard against its unwise use. Spendthrift trusts are often created by parents for their children.
A trust fund refers to real property or personal property held in trust for the benefit of another person. The trust fund's principal or body is called the corpus.
