Life Interest Trust 2nd trustee

Trusts Discussion
1

Good morning!

I was wondering

There is a life interest trust for the wife for one half of the property held as TIC. The wife and step daughter are the names executors/trustees in the Will. The stepdaughter has reserved power. I now need to assent/transfer half of the property into trust. Is it sufficient to purely name the wife as the trustee on the land registry forms or do we need to name a second trustee at this stage?

2

I guess the solution is this:
Husband and Wife hold the property as tenants in common in equal shares
Husband dies. Wife lodges form DJP with the Land Registry to vest the legal estate in her sole name.
Wife and Step daughter as executors assent to the Husband’s one half beneficial share vesting in themselves at trustees of the Husband’s Will Trust. The Step Daughter’s appointment as executor arises under the Will rather than the grant of probate which only validates the appointment. It may be best to confirm with the land registry whether they accept this. If not the Land Registry may insist that Step Daughter takes out a grant.
In any event after the executors assent to the Husband’s beneficial interest vesting in the Husband’s Trustees the Wife executes Land Registry form TR1 as transferor with Wife and Step Daughter as Transferees. The addresses of each should be given in panel 6. In panel 10: Declaration of Trust. The Transferee is more than one person and …. they are to hold the property on trust

  1. As to one half thereof for the Wife absolutely
  2. As to the other half thereof for Wife and Step Daughter as trustees of the [Husband] Will Trust.
3

Thank you for your kind response Vincent, that’s really helpful, much appreciated.