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Trustees, even professional trustees, do not always appreciate what is required to retire as a trustee, or who needs to be notified. Often retirement is treated quite casually and a trustee may believe, quite incorrectly, that notifying the remaining trustees that he or she has retired is sufficient. This lack of formality or appreciation of what needs … Continue reading
A fundamental principle of trust law is that trustees act personally. However, there is a big difference between acting personally and acting in accordance with your personal beliefs. This dichotomy, and the resulting consequences are high-lighted in the recent United Kingdom case of White v Williams.
The recent case of Rabson v Gallagher provides an excellent example of how not to use trusts in the context of protecting property from a relationship partner. The first mistake made was to intermingle relationship property and trust property. Where this happens any party should expect the court to ensure that the disaffected former partner is compensated. It is entirely possible and permissible … Continue reading
A recent discussion on the main sources of trustee liability highlighted again, the importance of appreciating the subtleties inherent in the role of trustee. The case under consideration revolved around three trustees, one of whom was a professional trustee, who decided to invest a substantial sum of trust money. Enquiries were made, advice taken from … Continue reading
Another day, another decision. Beneficiaries of new appear to be more litigious beasts than beneficiaries of old. I blame the internet. Or google. Whatever the reason, trustees need to take more care to ensure that their decisions cannot be impugned. This point is highlighted in McNulty v McNulty & Ors a case involving two beneficiaries and … Continue reading
Matters of Trust 