BENEFICIARIES

A trust is established for the benefit of its beneficiaries and those beneficiaries that can be identified within a trust deed are collectively known as the Class of Beneficiaries. A beneficiary’s interest in a trust can be in many forms. A beneficiary may for instance have a specific interest in a trust as to a share in any income and capital ("Fixed Interest Trust") or have a right to income with any appointment of capital at the discretion of the trustees ("Interest in Possession Trust") or merely have a potential interest, along with the other beneficiaries, to benefit from any income or capital at the trustees discretion ("Discretionary Trust"). The settlor of a trust may be a beneficiary, as indeed may a trustee, although their interests may be limited, terminate on death or be excluded, when acting as a trustee, from any decision making process as to any appointment of a trust’s income or capital.

Crossman Trust Company Limited PO Box 1, Portland House, Station Road, Ballasalla, Isle of Man, IM99 6AB, British Islands. Telephone: +44 (0)1624 825805 or 822816, Fax: +44 (0)1624 824570, E-Mail: mail@crossmantrust.com