We are dealing with an estate whereby the Will appoints professional executors and trustees. The Will leaves the residuary estate in a discretionary trust, of which son is a beneficiary. If the executors renounce and retire, can the son take out the Grant although not technically a residuary legatee?
Megan Blanchard
Foskett Marr Gadsby & Head LLP
Megan
I had a similar case where a bank were the sole executors and trustees with a discretionary trust of residue and they renounced and retired. The probate registry allowed our firm’s trust corporation to be appointed under s.116 Senior Courts Act 1981 as administrators, so that is probably your best route - we were instructed by one of the potential residuary beneficiaries. Tristram & Cootes have the relevant affidavit for the order.
Sharon Heselton
B P Collins LLP
The executors must appoint new trustees of the trust before they renounce the trusteeship, otherwise you will have to go to the court to appoint trustees
Simon Northcott