I have a Will where Executors are appointed by no Trustees and a life interest trust is created.
Is it possible for the Executors to act or appoint Trustees or do they just assume the responsibility?
Many thanks for any help
Hello,
The general view is based on case law rather than legislation. The executor holds the estate on trust (so therefore is deemed a trustee).
Appointing a new trustee is covered in Re Smith where the beneficary was an infant.
See: Re Ponder 1921note it was an intestate estate.
Richard C. Bishop
Thank you for your reply Richard.
I am having trouble finding the wording for the Re Smith case, would you be able to direct me further?
Its Re Smith (1880) 42 Ch D 302
Excellent overview of the caselaw here -
Richard C. Bishop
Many thanks Richard, it is much appreciated
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