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Buachaill, Barrister
Category: Law
Satisfied Customers: 10955
Experience:  Barrister 17 years experience
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Can an agreemnt to create a trust be revoked

Customer Question

Can an agreemnt to create a trust be revoked
Submitted: 3 years ago.
Category: Law
Expert:  Buachaill replied 3 years ago.

Buachaill :

1. Hello, can you better explain the situation? Has the trust been created? Or was there merely a bargain that a trust would be created at some time in the future? Has the trust paid out any monies? Are you the settlor, a trustee or a beneficiary of the trust?

JACUSTOMER-9pg9zvld- :

The agreement for a trust has been entered into some 20 years ago and then the proposed trustees decided to retain the property which formed the subject of the agreement as owners without there being any trust. the proposed trustees have died and the beneficiary under the agreement for a trust is now claiming the property as if the trust has been created.

Buachaill :

1. Essentially, the trustees have intermeddled in the trust and are in breach of their duty as trustees. The beneficiaries have power to appoint alternative trustees and get the alternative trustees to compel the new trustees to assign them the assets which were supposed to be the subject of the trust. They will also be able to get a court order to do so as there is no time limit on the fraud of the trustees. So the beneficiary can compel the dead trustees or their estate to assign the property the intended subject matter of the trust to the beneficiary in accordance with the terms of the trust.