Statement of Wishes

It is appropriate to mention here the way in which a statement of wishes operates.

This is a device by which in an informal way Settlors can record to trustees their wishes for the operation of the Trust. The Settlors may thus give indication to the trustees as to how they would wish trust funds invested, whether they would wish to prefer one beneficiary over another, whether they would wish to use particular professional advisers, etc.

This is another way in which the Settlors can exercise a measure of direction to the trustees as to the way in which the Trust is operated.