STEP Powers in a Will
Published / Last Updated on 11/09/2019
Extract from a Will with STEP powers:
"The reverse side of every page of my Will is intentionally left blank with the STEP Powers preceding this clause".
"In my Will where the context so admits any reference to the STEP Powers shall mean the Standard Provisions and all of the Special Provisions of the Society of Trust and Estate Practitioners (2nd edition) shall apply".
Society of Trust and Estate Practitioners (STEP) standard clauses for powers granted to executors of a Will. Examples:
- Power to insure property
- Power to manage and invest funds
- Power to distribute income to help child beneficiary funds held in trust e.g. for education, well being, holidays.
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