What is an unpaid present entitlement or ‘UPE’?

by Andreyev Lawyers | 6 - 288, 6 - Build and protect your wealth (including trusts), Marketing, Newsletter Published

If you have a discretionary family trust, then chances are your accountant has mentioned ‘unpaid present entitlements’ or ‘UPEs’. No doubt you have just nodded wisely, but deep down, do you really know what this means?