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Good Morning I am a trustee of a trust I was voted Chairman of the Trust at our last trustees meeting There are substantial sums in the trust. There are three trustees of which i am one. The other two have threatened me indirectly with legal action if i do not agree to wind the trust up and distribute. One of the trustees mother is a beneficery. They simply ignore me when i say he has a conflict of interest.
There seems to be bullying tactics in place here, the other two trustees imformed me via email this that they have written to all the proposed major beneficeries asking for imformation and explaining my position. I simply want to be provided with all the facts and my legal requirements. They seem in a desperate to wind the trust up. Could it be that the trustees mother who is a beneficeriery is 97!
Could you respond a little more please?
The trustees have the discretion to wind the trust up,i am not against winding the trust up , but there seems to me there is an unhealthy speed and discussion to wind the trust up.I want to be provided withthe legal responsibilities should such a thing happen.
I would like his another person to become the Chairman, who has been mentioned in a letter of wishes.
There are personal issues between the other two trustees,who do not want this person to have any involvement as he would not want to wind up the trust.
this other person was the heir to the recently desceased estate and has as luck would have it the trustee who has a conflict was an executor of the will.
there is now a court case taking place and the executors has delayed passing any monies over to the heir. They have paid all the tax already back in October