Appointment/removal/retirement of trustees

Question 1

Number of trustees needed

Answer 1

Trusts over land: min. 2, max. 4
Trusts over personalty: min. 1, no max.

Question 2

Trustee can retire without replacement if…

Answer 2

1. at least 2 trustees left,
2. trustee retires by deed,
3. other trustees consent by deed

Question 3

How should a new trustee be appointed?

Answer 3

By deed (but can simply be done in writing)

Question 4

Grounds to replace a trustee:

Answer 4

• trustee died,
• remains outside UK for over 12 months,
• wants to retire,
• refuses to act,
• unfit to act,
• under 18
  Replacement effected by continuing trustees

Question 5

When will court replace trustee?

Answer 5

If it’s expedient + difficult to appoint a trustee without court’s help
Only if it’s not in best interest of the trust for trustee to continue

Question 6

When can beneficiaries serve written direction for trustee to retire/appoint new trustee?

Answer 6

If beneficiaries of full age + capacity + together absolutely entitled to trust

Question 7

What happens if trustee dies?

Answer 7

Property passes to other trustees by survivorship

Question 8

How to appoint an attorney

Answer 8

By deed

Question 9

How long can an attorney be appointed for

Answer 9

12 months

Question 10

When should an attorney be appointed?

Answer 10

If trustee cannot run the trust for some time (but will remain responsible for attorney’s actions!)