What Happens When There Is No Will?
When you die without leaving a valid Will, there are strict rules in place known as the ‘Intestacy Rules’ which decide how your estate is divided. The rules have no regard for your previous relationships with those people, which can mean your estate passes to an estranged family member.
The only way to truly guarantee that your estate is given to whom you wish is to write a Will. Our specialist team at Banner Jones can guide you through the different types of Wills so that we prepare the right one to suit your circumstances. Families can be complex and it’s important to have a Will written that reflects your wishes properly.
For more information or to make an appointment please call 03300176309.
Can the actions of a Trustee be challenged?
If it can be shown that a trustee has breached their duty (either their legal duty or a duty pursuant to the terms of the trust) then the actions of a trustee may be subject to legal challenge. In some circumstances trustees may be removed from office by an order of the court.
Do all Trust disputes result in court proceedings?
No. Wherever possible we will seek to resolve the dispute informally by negotiation and alternative dispute resolution. The majority of trust disputes reach settlement without the need for court proceedings to be commenced. Should this approach not prove successful however, we have experience and expertise in trust litigation and court proceedings can be commenced.
How much does a trust dispute cost?
It is difficult to accurately predict the total cost of any dispute as no two disputes are the same and the costs are largely dictated by the amount of work required to bring the dispute to a final resolution. We appreciate that clients do not like uncertainty in relation to legal costs and depending on the circumstances of the case, we are able to offer a number of funding options to clients in order to suit their needs.
What are duties and powers of a Trustee?
A trustee has the legal responsibility for assets held in a trust and is required to manage the trust in accordance with the specified terms and the settlor’s wishes. Trustees are subject to various duties and as part of their function, including a requirement to: -
- Act with responsibility and care;
- Administer/manage the trust in accordance with the trust deed;
- Act fairly and impartially to all beneficiaries;
- Keep detailed records to demonstrate the trust has been managed properly;
- Not to personally benefit from the trust.
What options are available where an Executor/Administrator is not carrying out their role properly?
There are a number of possible outcomes such as the Executor/Administrator agreeing to stand down or be replaced, the Executor/Administrator undertaking to carry out their function going forward and even the removal or replacement of the Executor/Administrator. No two situations are the same and therefore consideration must always be given to the most favorable outcome given the specific facts of the matter.