Trustee power to apply and accumulate income: section 31 of Trustee Act 1925 | Practical Law

Trustee power to apply and accumulate income: section 31 of Trustee Act 1925 | Practical Law

A practice note explaining that section 31 of the Trustee Act 1925, known as the statutory power of maintenance, gives trustees powers and duties in relation to trust income. It discusses when section 31 applies, what the trustees' powers and duties are in relation to beneficiaries aged under and over 18, and when to apply, exclude or amend section 31.

Trustee power to apply and accumulate income: section 31 of Trustee Act 1925

Practical Law UK Practice Note 5-565-8486 (Approx. 13 pages)

Trustee power to apply and accumulate income: section 31 of Trustee Act 1925

by Practical Law Private Client
Maintained • England, Wales
A practice note explaining that section 31 of the Trustee Act 1925, known as the statutory power of maintenance, gives trustees powers and duties in relation to trust income. It discusses when section 31 applies, what the trustees' powers and duties are in relation to beneficiaries aged under and over 18, and when to apply, exclude or amend section 31.