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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10590
Experience:  Barrister 17 years experience
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Bare Trust Law If a trustee is willing to resign or have

Resolved Question:

Bare Trust Law
If a trustee is willing to resign or have someone appointed by a Power of Attorney who can decide on the new trustee/representative. Is it the role of the remaining trustee?
Submitted: 2 years ago.
Category: Law
Expert:  Buachaill replied 2 years ago.
1. Yes, it is the obligation of the remaining trustee to find a new person who is willing to take on the obligations of the trustee who is departing. Be aware that there must be a minimum of two trustees before a trust is valid. So the remaining trustee, if there is only one trustee, cannot act effectively without a second trustee in place. If the trustee cannot find someone, then they should speak with the beneficiary(s) to see if they know someone who would be willing to act. However the onus of getting someone new to act as trustee is the responsibility of the remaining trustee.
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