Trustees: appointment, removal and retirement

Question 1

How many trustees there should be

Answer 1

Trusts over land shoul have at least two human trustees or a sole trust corporation. Trust of personalty can have a sole trustee, although as a practical matter is is generally better to appoint more than one to ensure that each trustee can supervise what the other doing. Trusts over land cannot have more than four trustees.

Question 2

Retirement of trustees

Answer 2

1) The trust instrument may contain an express power for trustees to retire but this is unusual.
2) A trustee can retire without being replaced if:
a) there will be two trustees or a trust corporation left
b) the trustee retires by deed
c) the other trustees consent by deed
3) The retiring trustee must be replaced by the appontment of a new trustee. Appointment must be in writing. A deed automatically vests the trust property in the continuing and new trustee