How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Buachaill Your Own Question
Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10623
Experience:  Barrister 17 years experience
53108719
Type Your Law Question Here...
Buachaill is online now

In a Bare Trust with 2 trustees can one Trustee act independently

Resolved Question:

in a Bare Trust with 2 trustees can one Trustee act independently without even informing the second trustee?
Submitted: 2 years ago.
Category: Law
Expert:  Buachaill replied 2 years ago.
1. No, one trustee of a bare trust cannot act independently of the other, when determining what to do with trust assets. Essentially, it must be a joint decision of both trustees before it is lawful. Should one of two bare trustees seeking to act on their own, then this is grounds for bringing an application to have that trustee removed under the Trustee Act as a trustee of the trust. So here, even though the bare trust may have been set up to pay your counsin's IHT bill, she has no power to act independently in deciding what to do with the assets of the bare trust. Should she do so, she may be removed as trustee. Be aware that whilst bare trustees might have fewer duties of management in relation to trust assets, they are still subject to the basic trust duties.
Buachaill and 2 other Law Specialists are ready to help you