As per Re Rogers 2006 [2006] All ER 792, an appointment of partners in an unincorporated partnership or LLP as executors means profit sharing partners. Does the same apply to the appointment of partners in an unincorporated partnership or LLP as trustees?
Simon Northcott
Hi Simon
I wondered if you had found out the answer to your question, as I am also trying to establish this and mosts texts appears to be silent on this point?
Kind regards
Anna Howat
Chattertons Solicitors
Hi Anna
Where the appointment of trustees in a Will is linked to the appointment of executors, as it often will be, “partners” means profit sharing partners.
There seems to be no authority where it is an independent appointment of trustees, whether in a Will or a lifetime trust. It would seem logical the same applies, but not something you can rely on, unless someone else has found authority to the contrary?
Clearly it is preferable for the Will/trust to specify whether the appointment is limited to profit sharing partners, or also includes salaried partners/employees who are held out as being partners.
Simon Northcott