Traps for the Unwary
STAR and VISTA trusts are invaluable tools for trust practitioners, but need to be handled with care. Richard Grasby and Tony Pursall highlight areas to watch out for when drafting STAR and VISTA trusts. They emphasise the importance of properly drafted purposes to avoid the difficulties that often arise if care is not taken. Enforcers and enforcer conflicts, overriding powers and 'mis-selling' by trustees are also discussed.
Please see the attached article for further information. It was first published in the March 2010 edition of the STEP Journal.