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.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask JeremyT1020 Your Own Question
JeremyT1020
JeremyT1020,
Category: Law
Satisfied Customers: 915
Experience:  Expert
110498620
Type Your Law Question Here...
JeremyT1020 is online now

I am a Trustee of a life policy written in a discretionary

This answer was rated:

I am a Trustee of a life policy written in a discretionary trust. how long does a potential beneficiary have to contest my decision about paying out funds?
JA: Estate laws vary by location. Where are you located?
Customer: Kingston upon thames
JA: What documents or supporting evidence do you have?
Customer: letters of Administration
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: I don’t think so
Good evening and thank you for your question.  I'm a solicitor specialising in family law and contentious probate matters so I'd be happy to offer some guidance on this matter.

Potential beneficiaries have very few rights as the very nature of a discretionary trust is to allow the trustees flexibility when distributing the funds,  Therefore, the short answer to your question is that the potential beneficiary cannot challenge your decision simply because it appears to them to be grossly unfair.

I trust that information helps.  Please let me know if you need anything clarified.

JT

Customer: replied 18 days ago.
Thank you very much for your answer
Customer: replied 18 days ago.
Is there a period of time in which the potential beneficiaries take me the court. I have received a letter from my late husband’s ( who I was separated from ) ex partner

Hello again.  If they're potential beneficiaries, they cannot take you to court just because you don't distribute the monies to them as per my answer above.  Kind regards, J

Customer: replied 18 days ago.
her daughter falls is in the category of possible/ potential beneficiaries
As we were not divorced, I was granted the Letters of Administration, and became a Trustee of the policy.
The policy was set up in 2009 while we were still together, and has 3 default beneficiaries
Customer: replied 18 days ago.
Myself and my daughters
Customer: replied 18 days ago.
I have been planning to divide the monies accordingly
However, after having received letters from his ex partner’s lawyers , I am totally confused if I am making the right legal decision.
My husband passed away in 2020, leaving 2 biological daughters and 1 step daughter.
At the time of his death , we were still legally married, but we were not leaving together.

OK.  I'm not sure I'm following.  You told me this was a discretionary trust so you have a discretion as to who to distribute the monies to.  Your question was about potential beneficiaries and how long they had to challenge.

If you'd like a general answer, a normal (rather than potential) beneficiary has 6 months to challenge (and that time limit largely applies to most challenges to a will/probate scenario).
.

JeremyT1020 and other Law Specialists are ready to help you
Customer: replied 17 days ago.
Thank you Jeremy, for all your help.
I am so sorry for all the confusion.
I have been trying to understand how discretionary trusts work and what my rights or responsibilities are.
I am being rushed by the woman’s solicitors to inform them about my decision.
They also threaten me with a court case, that to be honest I would like to avoid.
I was given some legal advice which I found confusing ( it stated that if the woman were to contest my decision, and she would win in court) the trust monies would be used to cover the court fees.
I have been thinking of making an allowance t
Customer: replied 17 days ago.
For my late husband’s child.
Customer: replied 17 days ago.
My worry is , whether the amount I am thinking of , would be accepted by the child’s mother.