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Home Parishes Trusts Answers to some questions about parish trusts A parishioner has left the PCC some money in her will; does it have to be vested in the Board of Finance?

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A parishioner has left the PCC some money in her will; does it have to be vested in the Board of Finance?

by Michael Ford last modified 21 Dec, 2015 12:36 PM

If the legacy is an outright gift it need not be vested in the DBF. If the money is left in trust (i.e. the wording of the will is on the lines of "£xxx to be held in trust and the income applied to…") then the legacy must be vested in the DBF. The DBF will hold the capital and the income will be mandated to the PCC.

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