Qualifying Settlement, freed and released

17:24 Oct 10, 2016 

The Family Trustees may by deed declare that they hold any of the Family Share on trust to transfer it to trustees of a Qualifying Settlement, to hold on the terms of that Qualifying Settlement, freed and released from the terms of this Settlement.

16:58 Oct 10, 2016 

I think you may be confusing yourself by the way you are parsing it. See if this helps:
"...any of the Share ..., to transfer it to trustees ..., [for them] to hold [it]..., freed and released from the terms of this Settlement."

It's made a little more awkward as you have truncated the immediiately preceding text, which doesn't help make the logic of what is happening here totally clear. I think we could help you better if you were to give us the WHOLE of the preceding text...