This report addresses the widening of the provisions for maintenance from income and capital and considers provisions for advancement. It examines when a gift carries income; powers of maintenance out of income; and powers of maintenance and advancement out of capital. Frequently, the trust instrument does not confer powers to maintain or advance and in modern times statutory powers have appeared. Sections 32 and 33 of theAlberta Trustee Act, 1970, are examined. Section 32 gives […]
|TAGS||advancement, beneficiary, estate, maintenance, perpetuity, power, trust, will|
The Attorney General Statutes Amendment Act, 1974 (No. 2), SA 1974, c 65, s 9 amending the Trustee Act (now RSA 2000, c T-8, ss 32, 34, 35, 36(3), 37).
June 1, 1972