Section 27: Letters or memoranda of wishes

27. Letters or memoranda of wishes (1) The settlor of a trust may give to the trustees a letter of his wishes or the trustees may prepare a memorandum of the wishes of the settlor with regard to the exercise of any functions conferred on the trustees by the terms of the trust. (2) A beneficiary of a trust may give to the trustees a letter of his wishes or the trustees may prepare a memorandum of the wishes of the beneficiary with regard to the exercise of any functions conferred on the trustees by the terms of the trust. T22 – 15 [Issue 1] Trusts Act (3) Where a trust is in favour of a class of persons, any member of that class may give to the trustees a letter of his wishes or the trustees may prepare a memorandum of the wishes of that member with regard to the exercise of any functions conferred on the trustees by the terms of the trust. (4) Where a letter of wishes or a memorandum of wishes is given to or prepared by the trustees of a trust, the trustees— (a) may have regard to that letter or memorandum in exercising any functions conferred upon them by the terms of the trust; but (b) shall not be accountable in any way for their failure or refusal to have regard to that letter or memorandum. (5) No fiduciary duty or obligation shall be imposed on a trustee merely by the giving to him of a letter of wishes or the preparation by him of a memorandum of wishes.