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
The purpose of the Rule Against Perpetuities (RAP) is to balance the right of an individual to dispose of her wealth upon death as she sees fit, while recognizing that property is for the living, and the law should uphold the right of the living to control it. The ALRI believes the RAP still serves an important purpose, but requires several legislated amendments and so have provided 28 recommendations for the Alberta Legislature. For example, […]
|TAGS||accumulation, pension, perpetuity, power, pr, purpose, trust, wait and see, will|
Perpetuities Act, SA 1972, c 131 (now RSA 2000, c P-5).
August 1, 1971