Memorandum of Wishes

A Memorandum of Wishes is a document which the settlors can enter into in order to provide guidance to the Trustees of the Trust. While the Memorandum of Wishes may provide directions as to what the Trustees should do with the assets for the future beneficiaries, it is not technically binding on the trustees. This is because the Trustees’ decision-making powers are intended to be unfettered from other influences.