By law, the trustees must decide how to allocate your money. To make this decision, they:
- Do a full investigation, that can take up to 12 months
- Identify all your dependants and potential dependants.
- Establish the degree of dependency for each person
- Allocate the money available as equitably as possible
The investigation is straightforward when all the necessary information and evidence is provided, or easy to obtain. If all the information is not available this can lead to a protracted investigation. The process can be difficult and painful for family and loved ones, especially when there is a pressing need for the money and/or the final allocation is not as they may have expected.
Trustees are not allowed to blindly follow your nominations
Although you may nominate who you would like to receive the money in the Fund, and the trustees will aim to follow your wishes, as far as legally possible, they must determine for themselves who your dependants are and how much they must receive.
Your nominations can be followed if they are in line with the outcome of the trustees investigation (i.e. you have nominated your dependants according to their dependency), or if you have no dependants.
You can shorten the process for your loved ones
If you keep Allan Gray up to date with your full family circle, and any changes to it, it will reduce the length of the investigation. This includes:
- The contact information, and ID numbers if possible, of all your family members, partner, previous partners and close friends.
- Anyone you are giving any money or other financial support to.
- Your intentions with regard to those you are supporting, or may support in future.
Please log into your online account to keep your details up to date or download this form.