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Buachaill
Buachaill, Barrister
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Experience:  Barrister 17 years experience
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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: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year 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, Barrister
Category: Law
Satisfied Customers: 10277
Experience: Barrister 17 years experience
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