Version {version}
Hi {consultantname},
You are making Technical Amendments for {trustname}.
After you amend and submit this form, it will be sent to the Barrister, {barristername}, for approval as before.
If you only need to correct spelling or addresses, close this window down now (do not submit it), and use the Administrational Amendments option on the Amendments PDF.
This is a Single Lifetime Trust.
The Settlor, {s1salutation}, has an email address: {s1email}.
Once you submit for Barrister approval, an email will be sent to the {s1photoid} inviting {s1salutation} to complete an online Photo ID form.
If this email address does not look right, or is not the correct one, you can alter it in the field below.
If this email address is invalid, for example - there's a comma or space, you will be forced to correct it before continuing.
The Settlor, {s1salutation}, does not have an email address.
Once you suibmit for Barrister approval, the Settlor will be posted a letter from Head Office. Attached within will be a Photo ID form for he/she to complete and return.
This is a Joint Lifetime Trust.
Settlor 1, {s1salutation}, has an email address: {s1email}.
But Settlor 2, {s2salutation}, doesn't.
Once you submit for Barrister approval:
If any address does not look right, or is not the correct one, you can alter them below.
If an email address is not valid, for example - there's a comma or space, you will be forced to correct it before continuing.
Settlor 1, {s1salutation}, does not have an email address.
But Settlor 2, {s2salutation}, does: {s2email}.
And Settlor 2, {s2salutation}, also has an email address: {s2email}.
Neither Settlor, {s1salutation} or {s2salutation}, has an email address.
Once you submit for Barrister approval, each Settlor will be posted a letter from Head Office. Attached within will be a Photo ID form for them to complete and return.
Management CompanyWhen you are looking at a property title from the Land Registry you need to check that the Settlors own the property, and if there are any restrictions on the property that might prevent the property form being transferred to the trust.If the property is owned by the Settlors as Leasehold Property, a Restriction may exist in favour of a Management Company represent the Freehold owner. If this is the case, a Statement or Certificate from the Management Company may be required to allow the Transfer to take place – because we don’t have authority to do so, your client will have to ask the management Company for their assistance in this matter.
The Restriction may look like this…
RESTRICTION: No transfer of the registered estate by the proprietor of the registered estate or by the proprietor of any registered charge, not being a charge registered before the entry of this restriction is to be registered without a certificate signed by the proprietor for the time being of the registered estate comprising the reversion immediately expectant on the determination of the registered lease, or by a conveyancer.
Mortgages:
Where a debt exists on the property to a lender, typically a mortgage or equity release company, a restriction will be evident on the Title. The restriction may well be old and the debt may well have be satisfied but if it still exists on the Title, your client will have to approach the lender specified and ask that they removed it before the property can be transferred.The Restriction may look like this….
"(DATE) RESTRICTION: No disposition of the registered estate by the proprietor of the registered estate is to be registered without a written consent signed by the proprietor for the time being of the Charge dated DATE in favour of LENDER referred to in the Charges Register."
The client will need to contact the management company to ask them to either remove the restriction or provide written consent/a letter of authority that transferring the property into the lifetime trust is in accordance with their restriction on the title.
The charge must be removed before we can place the property into trust. The client needs to contact their mortgage provider to do this.
If you have told us that the Settlor’s will be acting as Trustees, their Details will be pulled through and populated below as Trustees 1 and 2. So, in this section we are looking for the Additional Trustees the Settlor’s are appointing.
As there are to be 7 or more Trustees, please contact head office for advice.
✅ We can accomodate this
⚠️ However because this is outside our normal process, it will take longer to put together
⚠️ You cannot enter the details here of the other Trustees beyond Trustee 6, so take a note of their details
Important: Only the first 4 Trustees will be added to the Land Registry Title. Please make the client aware of this if they are naming more than 4 Trustees.
Important: Trustees must be aged 18 or over by law.
Note to Consultant:
For your convenience, Beneficiaries 1 - 5 have been pulled from the Fact Find.
Indeed, the client can remove or replace any of these as they wish. And add up to 10 in total. Just amend the details below.
Important: Last names are required for each and every Beneficiary - even if they're all the same.
First, you must select how many Beneficiaries will be named for the Lifetime Trust:
You must make sure that the quanity in this drop down correctly reflects the number of beneficiaries below.
Secondary Life Tenants:
Aside from the main Life Tenants, {salutation1} (who is/are also the Settlor(s)), Secondary Life Tenants can optionally be nominated.
If the client wishes to do this, the people they choose MUST be either their child or grandchild.
The ultimate or, default beneficiary is an unrelated person, class of people (eg: grandchildren) or an organisation (such as a charity) that you would want to benefit should all other named beneficiar- ies have died and the Trustees are unable to identify a natural bloodline beneficiary.
Without naming an ultimate / default beneficiary, assets would be distributed as if the last named beneficiary had died intestate.
A Group of people (eg Nieces and Nephews) - NB. Do not name a group of people here if you have named that group of people and a group within the list of discretionary beneficiaries.
Specific People – NB. This person will only be able to benefit if they are alive when all the beneficiaries have perished.
Charity – NB – this would be the simplest and most secure option
ATTENTION CONSULTANT:
Because the client has chosen either: a group of people; or specific people, it is vital that they understand the risks of this decision.
You are required to advise the client the following:
You have chosen an individual or individuals to be your default beneficiary. Your default beneficiary is the last in line in relation to your trust. Please be aware that by selecting an individual, you run the risk of the default beneficiary(s) passing away before the end of the trust. If that happens the assets in the trust will be placed in the previous beneficiaries estate, and may be dealt with under the rules of Intestacy. We would always recommend an organisation such as a charity as the default beneficiary.
On each row used, in the Asset table below, make sure to select either DEA or Transfer. If neither or selected, this form will be rejected by the Barrister.
IMPORTANT - PLEASE READ!
Because you have selected one or more "Re-visit later" checkboxes, when you click the Submit button, this form will NOT go to the Barrister for approval review. Instead, you will receive an email containing a link back to this form, with all your answers retained. This enables you to go away and collate all the reamining answers to the required questions, and return to this form at a later time.
Once you have answered all the required questions, this message will disappear, and you will be given the option to submit this form to the Barrister.
Please note: If you are not submitting to the Barrister at this time, any data in the Assets table above will not be saved.