Appointment and removal of trustees

Cards (19)

  • Who can appoint a trustee?
    The court can appoint a trustee.
  • What can a trustee do regarding their appointment?
    A trustee can disclaim or refuse to accept the position.
  • What is the minimum and maximum number of trustees for land?
    At least 2 and not more than 4 trustees are required for land.
  • Under what condition can a settlor appoint new trustees?
    A settlor can appoint new trustees only if express provisions are provided in the trust document.
  • Who has the power to appoint new trustees?
    Existing trustees have the power to appoint new trustees.
  • What is the maximum number of trustees that can be appointed?
    A maximum of four trustees can be appointed.
  • What happens if there are no remaining trustees?
    The personal representative of the last surviving trustee may appoint a replacement.
  • Under what condition can beneficiaries appoint a trustee?
    Beneficiaries can appoint a trustee if no person is nominated in the trust instrument.
  • What conditions must be met for beneficiaries to appoint a trustee?
    All beneficiaries must be of full age and capacity, absolutely entitled to the trust property, and agree together.
  • What are the conditions under which a trustee can be removed without consent?
    A trustee can be removed if they are bankrupt or incapacitated, by beneficiaries, or by court order.
  • What is required for beneficiaries to remove a trustee?
    All beneficiaries must be of full age and capacity, absolutely entitled to the trust property, and agree together.
  • What is a condition for removing a trustee if no person is nominated in the trust instrument?
    Beneficiaries can remove a trustee if no person is nominated in the trust instrument.
  • What is a court order in the context of trustee removal?
    A court order can be a reason for removing a trustee without their consent.
  • What is the role of the settlor in appointing trustees?
    The settlor is unable to appoint new trustees unless express provisions are provided in the trust document.
  • What are the implications of a trustee disclaiming their position?
    A trustee can refuse to accept the position, which is an all-or-nothing decision.
  • What specific powers do existing trustees have regarding appointments?
    Existing trustees have the power to appoint new trustees but cannot exceed four in total.
  • What is the process for beneficiaries to appoint a trustee?
    Beneficiaries can appoint a trustee if no person is nominated in the trust instrument and they all agree.
  • What are the legal requirements for beneficiaries to remove a trustee?
    All beneficiaries must be of full age and capacity, absolutely entitled to the trust property, and agree together.
  • What is the significance of a court order in trustee matters?
    A court order can facilitate the removal of a trustee without their consent.