Hi, we are asked to advise on a deed of appointment on a trust where two trustees are required. Only one trustee has been appointed so this is being rectified by the deed.
My question is, there is a share holding in the name of one trustee only. Is it necessary to transfer this into the name of them both? My view is that it is (seems logical to me) not least for the protection two trustees would provide. Are there any issues in not doing so, other than security of having two trustees to sign and paperwork for sale?
Thanks
Lee Hibell
Paul Robinson Solicitors LLP