This Deed is dated 27 November 2024

TRUST FOR PARTY_1_NAME 

Between

(1)            PARTY_2_NAME of PARTY_1_ADDRESS_SINGLE_LINE and PARTY_3_NAME of PARTY_3_ADDRESS_SINGLE_LINE (Settlors)

(2)            PARTY_4_NAME whose principal place of business is at PARTY_2_ADDRESS_SINGLE_LINE (Trustees)

Background

1. The Settlors have decided to create a bare trust for PARTY_1_NAME, who was born on  (Beneficiary).
2. The Settlor has paid, or will pay, the Initial Fund to the Trustees.

Agreed terms

1. Bare Trust

The Trustees must hold the Trust Fund on trust for the Beneficiary absolutely.

2. Trust Income

2.1 While the Beneficiary is under 18, the Trustees:

(a)  may pay some or all of the income from the Trust Fund to the Beneficiary or use it for the Beneficiary's benefit; and

(b) subject to any exercise of the Trustees' power under clause 2.1(a), must add the income to the Trust Fund.

2.2  Section 31 of the Trustee Act 1925 does not apply to this trust.

3. Trust capital

3.1     While the Beneficiary is under 18, the Trustees may pay some or all of the capital of the Trust Fund to the Beneficiary or use it for Beneficary's benefit. 

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