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. The purpose of maintenance under Section 31 of the Trustee Act 1925 is to allow the trustees to…

Pay money to the life interest's ex-spouse correct incorrect

Help the principal beneficiaries with any financial problems correct incorrect

Help pay for the daily living expenses and education of infant beneficiaries correct incorrect

Pay income to a beneficiary with a vested interest correct incorrect

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. Maintenance is still possible even if…

There is a discretionary trust correct incorrect

There is a life interest correct incorrect

The parent of the child is already obliged to pay maintenance correct incorrect

The equitable interest of the beneficiary does not carry intermediate income correct incorrect

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. A beneficiary becomes entitled to the income produced by their equitable interest when…

They reach the age of 21 correct incorrect

Their interest becomes vested correct incorrect

Their parents agree correct incorrect

They attain the age of 18 correct incorrect

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. 'Advancement' in section 32 of the Trustee Act 1925 means…

Giving a beneficiary their share of the capital before they are entitled to it correct incorrect

The establishment in life of the beneficiary correct incorrect

Giving the share of capital of a parent to their child correct incorrect

Giving a beneficiary their share of the capital before they reach the age of majority correct incorrect

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. Which of the following statements is correct? An advancement is not permitted…

To avoid tax correct incorrect

To set the beneficiary up in business correct incorrect

To pay school fees correct incorrect

To pay off the debts of the parents correct incorrect

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. The consent of the following is required before an advancement can be made…

The parent of a child correct incorrect

The child who receives the advance correct incorrect

The court correct incorrect

A prior interest correct incorrect

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. Why was the consent of the children necessary to the advances made in Re Pauling's Settlement Trusts 1964?

Because of the terms of Section 61 of the Trustee Act 1925 correct incorrect

Because they were below the age of majority correct incorrect

Because the advances were improper and the children were subject to the undue influence of their parents correct incorrect

Because of the special terms of the Pauling's Settlement Trusts correct incorrect

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. The purpose of a Protective Trust is to…

Provide for the maintenance and support of the principal beneficiary, spouse and children correct incorrect

Defraud creditors correct incorrect

Avoid tax correct incorrect

Prevent the principal beneficiary from becoming bankrupt correct incorrect

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. How does a Protective Trust work?

The principal beneficiary is bankrupted correct incorrect

The principal beneficiary cannot be sued for debt correct incorrect

The beneficiaries cannot be sued for debt correct incorrect

Upon a determining event, the trust property is held upon a discretionary trust correct incorrect