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Trust review, Trustee Act, Trustee liability, Trustees

Trustees lost at sea?

I often describe trusts to new clients by reference to puppies.  A lovely idea – and a very important life time companion.  However, trusts like puppies need a lot of support, maintenance and there needs to be someone to clean up.

I was pleased then to see Lindsay Pope today analogising accepting an appointment as a trustee with choosing to sail to a Pacific Island on a yacht.   Very few people (one assumes) would set sail without making careful enquires.  However, many trustees take their long-term personal financial safety and put it in the hands of their co-trustees with nary a question asked.

For some useful guidance on things trustees should ask before (or after) saying yes see Lindsay Pope – Trustee Support “Look before you leap”

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