I am organising for a professional trustee to retire as trustee of a life interest trust for the Settlor’s children that was set up in 1997.
I’ve noticed that one of the Settlor’s daughters is named incorrectly in the original trust deed. She’s referred to by completely the wrong first name (her middle names and surname are correct). She has received substantial capital distributions since the trust was set up.
The Settlor, all of the beneficiaries, the current trustees and the new trustee are all in agreement that this is a drafting error.
I would appreciate any input from the forum as to how best to deal with this. I’m hoping that we can correct the mistake within the deed of appointment and retirement of trustees. The settlor and beneficiaries are a party to that deed already, as there was a breach of trust and we wanted everyone involved to ratify it.
Armstrong Private Client Solicitors Ltd