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A woman died six months ago leaving an estate of £60,000 to be divided equally between her three children at the age of 21. Her son is 24 and her two daughters are 19 and 14. Her son is about to receive his share of the estate. The trustees have received a request to advance capital to help set up the elder daughter’s new catering business. The woman’s will does not extend the trustees’ powers of advancement.
What is the maximum amount the trustees can apply in accordance with the request?
A. £0
B. £10,000
C. £20,000
D. £30,000
E. £40,000
C - £20,000
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Find out what happens after passing the SQE and admission to the roll of solicitors.