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Joshua
Joshua, Lawyer
Category: Law
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Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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In a will trust with three trustees, two who have now

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Hello, in a will trust with three trustees, two who have now resigned, if the STEP.org provision is written into it, is it the law to have more than one trustee?
JA: Where is this? It matters because laws vary by location.
Customer: northern ireland
JA: What steps have been taken so far?
Customer: my solicitor is saying that we have to have more than one trustee but STEP when I contacted them, said more than one trustee is rule of thumb not the law
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: no
Customer: replied 12 days ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer: replied 12 days ago.
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 12 days ago.
i cannot download app as i am currently in ROI
Customer: replied 12 days ago.
File attached (M63MQPS)

Hello and thank you for your question. My name is ***** ***** I will be very pleased to assist you. I'm a practising lawyer in England with over 15 years’ experience. Please be aware that although I will endeavour to reply to you promptly, I am also in full time private practice and so I may not be available to respond immediately and it may also take me a few minutes to prepare a reply. The site will notify you as soon as I respond. I look forward to working with you to answer your question fully.

May I confirm what assets the trust comprises please? In particular, does the trust include a house or flat?

Customer: replied 12 days ago.
The Trust includes money and is for an underage beneficiary
Customer: replied 12 days ago.
does it matter what the trust includes? I just want to know if STEP is integrated into a will where they advise that you should have more than one trustee, can you legally proceed with just one trustee, who has the backing of the two retired trustees?

thank you. the minimum number of trustees for a trust is one but in respect of certain kinds of property, it is necessary to have two or more trustees in order to give a valid receipt to any potential buyer. This is why I asked what assets were comprised in the trust. If there were a property, then if in the future you found it necessary to sell the property, it is likely that a second trustee would need to be appointed for the purpose. However, if the trust only comprises money, then it is sufficient for there to be one trustee there optionally, you could exercise a right to appoint an additional trustee to act alongside you if you wished

Customer: replied 12 days ago.
Thank you and sorry if I sounded rude. So just to clarify, even if the STEP provision is included in the will, we can bypass if required?

Not at all and I did not take your comment as being rude I assure you. may I clarify what you refer to in terms of "bypassing"? Do you mean the need to appoint a second trustee?

Customer: replied 12 days ago.
We hate the solicitors we are with. They set up a trust and I have to resign against my will as I am based in ROI and we cannot get a bank trustee account who accepts a non uk taxpayer. The solicitor is making it difficult with regards ***** ***** the beneficiary’s money, saying we need another trustee.

Thank you. so to be clear, you are the sole remaining trustee but must resign under the trustee act because you do not live in the UK. We refer to releasing the beneficiaries money. Are the solicitors proposing to pay out the money free of trust to the beneficiary or a parent of the beneficiary?

Customer: replied 12 days ago.
Sorry, I am the parent of the beneficiary but my sister will be the sole trustee as she lives in Scotland. The solicitors are asking us to set up a bank trustee account to transfer the monies to from their client account.

thank you. Whilst I appreciate the actions of the solicitors are frustrating, they are not strictly wrong in what they are requesting. The difficulty is that because they presently hold the funds, then if they release the funds other than in accordance with good practice, they could potentially find themselves negligent as against your child when they come of age if the solicitors actions can be shown to have potentially caused your child loss. It is good practice to have two trustees or more, with the risk being that where there is one trustee, it is much easier for them to effectively misappropriate funds, not that I suggest for one moment that your sister would do such a thing. your sister may have a spouse or you may have another close family member that lives in the UK who could potentially act as a second trustee.

Customer: replied 12 days ago.
That might be the case, but they drafted a will knowing my ROI resident status and I have had to resign because there is no available account on the market that will accept me as a trustee, (and I have tried everybody from Goodbody's to The Progressive Building Society; a total of 22 institutions). My sister will have the backing of myself and the other retiree. I just want to know can my sister legally set up an account as the sole trustee and can we politely disregard their request.
Customer: replied 12 days ago.
I may add, she does not want to involve her husband and we have no other remaining relatives. We do not want to ask a friend as it has been so complicated so far.
Customer: replied 12 days ago.
We also want to buy a property for my daughter with the funds as money is a depreciating asset and the housing crisis in Ireland will take years to right. We all feel that a house bought outright for her, would be the best way of appropriating the funds.

Are the solicitors also a trustee of the trust or just acting for the executors?

Customer: replied 12 days ago.
No, just acting for us

thank you. On that basis, the solicitors ultimately have to do what they are told by the executors as long as all of the executors instruct them jointly in this respect. The solicitors may advise you against doing something and notwithstanding your above comments, they would not be entirely incorrect to do so and they may ask you as executors for an indemnity if you instruct them against their advice but ultimately, if you instruct them collectively to do something, they must do it unless it is illegal.

Customer: replied 12 days ago.
Thank you so much

I'm glad the above answers all your questions for now. If you have any follow up questions please revert to me.

Customer: replied 12 days ago.
Will do. How do I request you?

You can ask any question beginning with "FOR JOSHUA ONLY" or words to that effect.

Thank you again for visiting JustAnswer and see you again in the future I hope.

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