‘STEP’ is a global specialist association, made up of lawyers, accountants, trustees and other practitioners, which promote professional standards in assisting the future planning of families. Debbie Neiteler, Derek Barker and Edward Tomlins-Gill are affiliated members of STEP, which is a credential professional qualification, that demonstrates their knowledge within the trusts and estates planning field.
On the 1st November 2023, the Society of Trust and Estate Practitioners (STEP) published the Third Edition of their Standard and Special Provisions. Our private client department incorporate the Standard Provisions and all of the special provisions of the Society of Trust and Estate Practitioners (3rd edition) to every Will and Trust that our clients make. The STEP Provisions holds great significance as they avoid the overuse of technical terms and legal jargon, and set out the important clauses in a more understandable manner for the reader.
The set of ready-made passages ensure that each party recognises the full terms of the Will and any trusts which are included. For example, provision four sets out the additional powers that trustees have, which include details of investment, management, accumulated income and occupation or use of a Trust Property etc.
They provide the trustees and/or the executors the power and protection that enables them to effectively deal with the estate and fulfil their duties. Austin & Carnley include the provisions because they promote fairness in their guidelines to each of the parties involved which aligns with our core values, which we strive to achieve every day.