Hi everyone
I was just wondering if anyone has had a NRB trust whereby a solicitors have been appointed who are no longer in existence and there is no successor practice or successor appointed in the trust. The deceased’s spouse is also a trustee and I just wanted to double check whether she can simply just appoint another trustee (the trust does give power to appoint) or whether an application to court is required to remove the solicitors (not sure if I have just completely overthought it all).
In addition, the NRB trust is discretionary with future grandchildren referred to as discretionary beneficiaries. Can I still claw back the trust within 2 years of death or not as there are potential future beneficiaries? Again, not sure if I am overthinking… it is a Friday afternoon after all so I’m surprised my brain is still co-operating to this extent!
As always, any guidance is very much appreciated 
Thanks
Jess
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I would say it depends on the exact wording which appoints the solicitors. If the Will appoints (for example) the head of private client of ABC law firm, then such a person does not exist, and the widow is the only trustee. If the Will appoints Joe Bloggs, solicitor at ABC law firm, then Joe Bloggs will still in theory be a trustee, notwithstanding the dissolution of the law firm, unless the Will specifies he must be a lawyer at ABC at the time.
In addition, the appointment of a trustee is only accepted when they execute the deed. I am afraid I am not sure how this applies to Will Trusts, but I would guess de facto if the widow is the only person willing to act as a trustee, then she will be the sole trustee.
In the absence of any express powers in the Will to appoint trustees, the statutory power of appointment in TA 1924 s36 will vest in the person or persons nominated by the Will, or if no such persons are named, in the trustees for the time being.
In a practical sense, I would therefore expect the widow to be the sole trustee, and have the power to appoint additional trustees.
My understanding of Saunder vs Vautier is that it gives the beneficiaries the ability to force the trustees to terminate the trust in the beneficiaries’ favour, providing all the beneficiary agree that is what they want. As you note, this can be difficult/impossible if there are unborn beneficiaries.
However, assuming there is nothing to the contrary in the Will, and assuming it gives the trustees the power to appoint capital, the trustee or trustees can simply pay the trust fund out to such of the living beneficiaries as they wish. They must of course consider the interests of future unborn beneficiaries, but having considered that, they are at liberty to pay the trust fund out now.
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