The story is 4 siblings get equal share of shares, 2 were left the shares to do as they please and the other 2 were left as worded further on. . I need to know if the 2 trust siblings can sell any shares and claim the cash or entitled to the interest/dividends only. Here is the exact wording with names changed.
:1 quarter to FRED to have the use and occupation during his life and I empower my trustee at FREDS request to employ the proceeds of such sale in the purchase of alternative shares to be held upon the same trusts including the trust for sale and purchase as are herein declared in respect of the said shares in which have an interest at the date of my death and to invest any excess funds arising out of such a sale and to pay the net annual income arising therefrom to my said son FRED during his life and I direct that on the death of Fred my trustee shall stand possessed of my of my interest in the said shares or the proceeds of said shares or proceeds of sale thereof UPON TRUST for such of them My grandson SIMON who shall be living at my death etc.....
Also the trustees are the 2 that didnt get theres in a trust. Thankyou so much for any clarification you may provide me.
:1 quarter to FRED to have the use and occupation during his life and I empower my trustee at FREDS request to employ the proceeds of such sale in the purchase of alternative shares to be held upon the same trusts including the trust for sale and purchase as are herein declared in respect of the said shares in which have an interest at the date of my death and to invest any excess funds arising out of such a sale and to pay the net annual income arising therefrom to my said son FRED during his life and I direct that on the death of Fred my trustee shall stand possessed of my of my interest in the said shares or the proceeds of said shares or proceeds of sale thereof UPON TRUST for such of them My grandson SIMON who shall be living at my death etc.....
Also the trustees are the 2 that didnt get theres in a trust. Thankyou so much for any clarification you may provide me.