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United Kingdom
United Kingdom
Key definition
Trust definition What does Trust mean? A trust is a legal arrangement in which one or more trustees hold and manage property (the trust property) for the benefit of beneficiaries. It is primarily defined by case law rather than a single statute, though key rules appear in legislation (for example, writing requirements and trustee powers). Trusts arise by express declaration (usually by a settlor), by operation of law (resulting or constructive trusts), or under statute, and are used in private client, commercial, pension and charitable contexts. Core features include: the trustee’s fiduciary duties to act loyally, prudently and in accordance with the trust terms; control...
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Trustee Powers in England and Wales: Dispositive and Administrative Powers, Fiduciary Standards, Impartiality, Court Supervision, Disclaimers, and Statutory Powers (Trustee Act 2000; TOLATA 1996)
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Practice notes
Nature of powers
A trustee’s authority can be grouped as follows:
- administrative, i.e. powers concerned with careful stewardship in fulfilling the trustee’s obligation to preserve the trust fund
- dispositive, i.e. powers designed to alter the benefits that beneficiaries are to receive (often called ‘distributive powers’)
Powers might be wholly discretionary (such as bare powers of appointment seen in fixed or discretionary settlements), or they may take the form of a trust or duty (as with trust powers within discretionary trusts). A trustee is required to consider whether to invoke a purely discretionary power, yet cannot be forced to do so, even if leaving it unused advantages one beneficiary to the detriment of another. Where a power amounts to a trust or enforceable duty, its use can be compelled; however, the court will not substitute its judgment for the trustee’s regarding the timing and method of exercising it. Drawing the line is not always straightforward. Labels are not conclusive; the intention is derived from the instrument read as a whole. Context, structure, and wording together inform that conclusion. Whether the instrument creates a trust or merely confers a power turns on construing the wording employed in the trust document...
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Web page updated on 22/05/2026
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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...
I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...
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