Where there is goodwill there will be no difficulty accommodating the purchase of, for instance, an occupational licence - but there appears, at least at the time of writing this article, no case which clearly states that the purchase of an occupational licence equates to the purchase of another 'residence'. While inflation is not high at present there is still the prospect of a modest capital gain on a purchase of a home. Most occupational licences would mean a reduction in the capital returned on the surrender of the licence. Trustees perhaps need to consider their position in this regard, particularly when there are minors as remaindermen. A word of caution.
People often expect to use the property of the trusts as their own.
If a marriage should break down a division of matrimonial property will be required. There may be very little property to divide to provide a new start in life if the majority of assets have been transferred to trusts. Further, the expectation that a party will benefit from a discretionary trust may not be fulfilled, or perhaps the terms of the trust are paid lip service only with the real benefit going to the other party. There are remedies but these, in the case of section 182 of the Family Proceedings Act, rely on discretion or, in the case of section 44 of the MPA, require proof of an intent by the settlor to defeat a matrimonial property claim. The provisions of the Protection of Personal and Property Rights Act 1988 contain useful tools for the management of those who through age, infirmity or disability are unable to manage their own affairs.