ABSTRACT
If the beneficiary attains the age of majority without attaining a vested interest under the terms of the trust, the trustees are required to pay the income to the beneficiary until he acquires a vested interest or dies, or his interest fails (s 31(1)(ii)). The payment includes accumulated income. Accordingly, a beneficiary acquires a vested interest in the income of the trust by statute on attaining the age of majority even though under the trust he does not enjoy a vested interest.
