A clause in my will gives my trustees carte blanche to deal with my estate, including the right to invest in unsecured, interest-free loans and to handle my affairs without any of the consents required by section 41 of the Administration of Estates Act 1925. What does that mean?
The 1925 Act laid down a narrow range of investment options which are commonly regarded as out of date nowadays and which might make it difficult for your trustees to handle your finances efficiently; fortunately, statute has been altered since then and now the investments permitted by law are much wider. The aim of the clause is to give your trustees, or executors, full and unrestricted freedom in administering your will.