Key legal developments - November 2014

The Inheritance and Trustee Powers Act came into force on 1st October 2014. This statute makes changes to intestacy rules and to the law governing provision for family members and dependents of a deceased person and, most significant for undergraduate trusts students, it makes changes to the statutory powers of "maintenance" (Trustee Act 1925 s.31) and "advancement" (Trustee Act 1925 s.32) by removing the statutory limits that were formerly placed on the extent to which these powers could be exercised. The Law Society's website contains a useful summary (http://www.lawsociety.org.uk/advice/articles/inheritance-and-trustees-powers-act-2014-implications-for-solicitors/) and the full text can be accessed online here: http://www.legislation.gov.uk/ukpga/2014/16/contents/enacted.

Back to top