A fixed Trust is a trust in which the Beneficiaries' entitlements are fixed in nature. Each of the Settlor's close family members may be entitled to £10,000 per annum for life for instance, or each can have distributed to them some specified family heirloom. Often trusts have both fixed and discretionary elements.
With a trust that is wholly fixed in nature, the trustees will not have any discretion. A Letter of Wishes therefore is not necessary.
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