yes please. my sister has been controlling the funds as the other trustee is an accountant and cannot provide financial advice. my sister is also the other beneficiary ( myself being also a beneficiary) the problem arising is the trustees have not conducted any regular reviews over a ten year span. that being not action has been taken to seek any independent financial advice preferring to leave the funds with one source Barclays Wealth. I feel that not enough care has been taken towards myself as when I die my sister inherits the residual trust fund.
I feel that as the trust fund value is only £90,000 a third trustee would be too many. I would want one of the other trustees to stand down. As one trustee makes little contribution they should resign. Having the beneficiary's as trustees would make more sense and more accountable.
I cannot stop thinking as it stands a conflict of interest arises.
after 10 years with poor returns and no independent financial advice sought l would insist. the other option is to dissolve the trust fund. l have never intervened which may have been a mistake on my part.
the second trustee only prepares the annual accounts and is paid for her services out of the trust fund account. there seems no value of retaining the trustee for her involvement?
no the will is specific. Susan, my sister will receive the transfer of funds upon my death. there is no stipulation as to appointing or removing a trustee. however, the will was made before the trustees act 2000.
there are not other beneficiaries apart from the two of us.