Hi,
Has anyone encountered the term 'Distribution Day' in the context of a discretionary trust?
I've been googling it with little useful results.
In very brief background terms:
Will establishes discretionary trust (with trustees, beneficiaries etc) upon death of 'A'. A died a decade ago.
Will states 'Distribution Day' is 1 day after the death of 'B' (spouse of A). B died late last year.
The will is (to my laymans eye) very difficult to understand, but seems to imply 'something' happens on 'Distribution Day' but is very vague as to what this something is.
Any guidance on whether this is a normal legal term, with a particular meaning, would be greatly appreciated.
Has anyone encountered the term 'Distribution Day' in the context of a discretionary trust?
I've been googling it with little useful results.
In very brief background terms:
Will establishes discretionary trust (with trustees, beneficiaries etc) upon death of 'A'. A died a decade ago.
Will states 'Distribution Day' is 1 day after the death of 'B' (spouse of A). B died late last year.
The will is (to my laymans eye) very difficult to understand, but seems to imply 'something' happens on 'Distribution Day' but is very vague as to what this something is.
Any guidance on whether this is a normal legal term, with a particular meaning, would be greatly appreciated.
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