I have been appointed as a co trustee of a Will trust along with a child’s mother. The mother (a widow) would like the fund to be used to pay for the child’s private education, this would almost certainly exhaust the trust fund. The child is currently being state educated. I have declined this request. The mother has now requested the income be used to supplement school fees. Any views would be great.
My deceased client had previous requested in a meeting that the funds not be used for paying for private education but the mother is saying this is contrary to the conversations she had. In addition mother has a financial advisor and wants that advisor to advise on the trust. I would prefer to instruct an independent advisor and have suggested the deceased’s former advisor who advised the deceased for many years to keep things separate.
Currently until an agreement is reached funds are being held on my client account not earning any interest, which is clearly not ideal. Any suggestions would be helpful.
Rachel Stafford Legal Services