Trustees fettering and breach of duty

Trusts Discussion
1

Im representing case as a lay representative, and with due respect,may I ask this question.

Life assurance trust policy.

The settler created a whole of life trust in 1992, settler passed away in 2004.
The settler also created a will trust and probate was granted in 2005.
The trustees of this trust claimed they were contacted by the life assurance company in 2012.
The life Assurance Policy had 2 different trustees,these are seperate from the Will Trust and the company who runs the trust.
The Will trustees contacted the life assurance trustees who were mentioned on the life policy,and asked them to retire in favour of them.
The life Assurance company said there was 4 default beneficiaries and were named .
The Will trustees waited until they were appointed and declared loss of policy and loss of deeds,then they have commingled the life policy into the estate,and also changed the designations of the named beneficiaries under the instructions of the executor .
Now there is a huge tax problem amounting to millions.
Will trustees have slandered 2 beneficiaries,and on this have done a deed of variation.
They have removed 1 absolute intitled beneficiary and reduced the other.
There has been non disclosure,use of personal details as in ni numbers and tax number too.
Is there a case for breach of duty and deprivation.

2

As the facts are complex and there is a considerable amount ‘at stake’, this seems to be a situation in which professional legal advice is essential.

3

Thank you Gerry for your Reply.
We did initially get advice from a solicitor,his words were that there was fettering,and overriding evidence that they were listening to the Executor and carrying out his wishes.
The Executor is also the Life Beneficiary of the will trust ,also there is evidence that they tried to rid the default beneficiary 2019 who has 3/4 share of the will estate,the estate is meant to run for another 50 years…
They have also moved the 2 children of the settler to the life trust,and named the Trust the same as the Will Trust .

4

Without wishing to be critical and whilst not speaking for the forum, I really feel that It is unfair to expect members of this forum to suggest solutions to the problems you have outlined. As suggested by Gerry you really need to take advice from a solicitor and certainly one who is competent to deal with what is clearly a complicated affair and would undoubtedly involve specialist counsel to advise.

Patrick Moroney

5

Patrick ,
Apologies,money here is the issue and there is no harm in trying.
I just don’t like the where a person, or persons may be swindled.
I hope you understand that I had to try and do something.
Again apologies

6

I agree Patrick. I would imagine a contentious trust and probate solicitor is needed. They are there to be found on the STEP website and I know a couple of good ones myself. Perhaps the poster should be asking for recommendations for specialists they can instruct.

Sara

Sara Spencer | Trust Manager

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