We have a lifetime trust in favour o the surviving spouse over the entire of the deceased estate, the trust allows access to capital as well as income.
A letter accompanying explains that his first priority is his spouse and ensuring she is adequately provided for.
Our query is whether the remaindermen would have any grounds to query how the trust money was used as this effects their entitlement at the end. for example, how much was paid out to the life tenant or if a property was sold whether the sale price was adequate.
My understanding, especially in this case, is that the remaindermen are just to inherit whatever is left when the trust ends.
I would like to jump onto this thread, if I may. I have a slightly different scenario in that the life tenant is the surviving 2nd spouse and the remaindermen are the children from first marriage. Relationships are fraught and remaindermen are pressuring the life tenant - she is often brought to tears and is not “enjoying” full use of the property. She wants to sell and now they are saying they want her to explore planning permission to maximise value before sale. The house needs a new roof which she cannot afford so she wants a quick sale. I would like to tell the remaindermen to back off but would like a more legal ground for doing so if I can, or am I wrong?