Other Trust and Estate Disputes
The law imposes obligations on Trustees, Personal Representatives and Attorneys.
Some of the duties and responsibilities of Trustees are to:
- Act fairly between beneficiaries
- Comply with the terms of the Trust
- Provide information and accounts to the beneficiaries
- Act unanimously
- Act without reward
- And not make a secret profit from the Trust.
Trustees can fall out with each other and with beneficiaries. Trustees can apply to the Court for Directions as to how a Trust should be administered. In extreme circumstances, Trustees or beneficiaries can apply to have a Trustee removed. Trustees can be made to account to the Trust Fund for any profits they may have made and may be ordered to reimburse the fund for any losses caused by a breach of their duties and responsibilities.
Personal Representatives are required to take control of the deceased’s assets and arrange for them to be valued and if necessary, sold. They must account to the Revenue for Inheritance Tax if payable. Many of those obligations which are placed upon Trustees also apply to Personal Representatives.
Sadly, many disputes of this nature involve family members and often need to be dealt with sensitively and sympathetically. At Stephens Scown, our expert lawyers are on hand to help you deal with all these issues.
Phil Gregory
Partner0845 450 5558
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