I have been instructed to deal with a situation where both trustees of a lifetime trust have died (settlor has died previously who had a right to appoint new trustees). The last trustee to die died intestate in 2016 and his wife survived him and was sole beneficiary to his estate. However, she has died 2024 before dealing with his estate (no letters of admin were taken), intestate, leaving 4 children who inherit her estate.
There is a property in the trust that needs to be sold as the trust has come to an end (was a life interest trust) and the family hadn’t realised that there were no trustees remaining so have a buyer waiting already.
Would we need to get letters of admin to the wife’s estate then her administrators apply for letters of admin to husband (former trustees) estate to enable them to sell?? (which with the current state of the probate office could take a long time) or is there another route?
I think the problem here is that the family blithely started to take action without knowing what needed to be done. Dare I suggest that was not unconnected with a desire to save money, just as is the situation where they have a prospective purchaser but cannot show title to the property?
I think what needs to be done is to appoint new trustees, and if this means the family loses the prospective purchaser then so be it.
Either (as Paul says) a vesting order under s.44 TA 1925 or get letters of administration in husband’s estate so his PR can make the appointment.
A master can grant a vesting order (potentially, but not necessarily, on paper) so there may be a chance it would be quicker than a grant - albeit with the Summer recess approaching.
(Edit to add: combined with an application to appoint a trustee under s.41 TA)