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It is commonly believed that professional or independent trustees operate in a different capacity than trustees who can benefit from the trust; and that liability, if it arises, should only be borne by trustees who can benefit from the trust (see Rubber stamp alert). This is not the case. A professional trustee was recently bankrupted … 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 →
Matters of Trust