Trustees – Page 6 – Law Journals

Trustees: Sensible streamlining

The consultation on ss31 and 32 of the Trustee Act 1925 introduces positive changes, finds Laurence Morgan ‘To draw a dividing line between statutory trusts on intestacy, on the one hand, and trusts established by will or in the settlor’s lifetime on the other, could create confusion and a potential trap for trustees and professional …

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Trustees: Bare necessities

Christopher Kerr-Smiley sets out the powers and duties of bare trustees ‘The duty to preserve trust property may require bare trustees to continue legal proceedings that are ongoing at the time they become trustees, as demonstrated by CGU Insurance Ltd v One.Tel Ltd (in liquidation) [2010].’All trusts can be categorised as either special or simple. …

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Trustees: Unanticipated outcomes

Antoaneta Proctor outlines the facts and ramifications of Pitt & anor v Holt & anor ‘In Pitt & anor v Holt & anor Lloyd LJ reached a conclusion that what has become known as the rule in Hastings-Bass is actually not a correct statement of the law.’ Can a receiver of a patient whose offices …

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Trustees: Hastings-Bass overturned?

Marilyn McKeever looks at the implications for trustees and their advisers in the pivotal case Futter v Futter ‘The purpose of the rule in Hastings-Bass was to protect the beneficiaries, not the trustees. The effect of the new rule in Futter is to reduce that protection significantly.’ In Futter & anor v Futter & ors …

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Trustees: Beware the fee

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Peter Nellist explains the true cost of investment funds There are several reasons why lawyers and trustees need to have an overall understanding of investment costs; not least is the duty in s5 of the Trustee Act 2000 ‘to obtain and consider proper investment advice’ when considering investment of a trust’s assets. Apart from timing, …

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Trustees: Making the break

Penelope Reed QC and William East look at the removal of trustees ‘The exercise of the court’s jurisdiction to remove trustees is not dependent on some finding of misconduct or breach of trust; other conduct can also suffice provided that the continuance of the trustee would prevent the trusts being properly executed.’When faced with trustees …

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Trustees: Keeping track of your beneficiaries

Jo Summers and Caroline Eady outline the lessons to be learnt from AON Pension Trustees Ltd ‘AON Pension Trustees Ltd v MCP Pension Trustees Ltd [2010] confirms, for the first time, that the protection afforded by s27 of the Trustee Act 1925 can be extended to trustees of pension schemes.’The case of AON Pension Trustees …

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Colorcon v Huckell & ors WTLR(w) 2009-05

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