Distribution to a beneficiary
Before distribution to a beneficiary, the investments will be re-valued and the profits or losses divided between the beneficiaries as follows:-
- Capital investments, equally, or according to the terms of the will or trust deed;
- Accumulation investments, according to the balances on the Income
Accumulations Account at the commencement of the year. A beneficiary may be paid out the share due to him in one of the following ways:-
- Exact division of each investment,
- Appropriation in specie by agreement and adjusting either way in cash,
- All investments realised and the amount due to the beneficiary paid to him.