Only beneficiaries can receive benefits from a trust, so it is important to know who can and cannot be beneficiaries. Beneficiaries can be defined by name. For example, “David Marks, Peter Jones, Sally Abrahams” etc. Or as an identifiable class of people. For example, “Any child born of or adopted by David Marks”. Another Trust can also be a beneficiary and again this could be defined by Trust name and number or by identifiable class such as “Any trust of which David Marks is a beneficiary”. A Company or CC can be a beneficiary. This could be defined by name…
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