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Black letter law
Trusts
Appointment and removal of trustees
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Created by
Elliot
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Cards (19)
Who can appoint a trustee?
The
court
can appoint a trustee.
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What can a trustee do regarding their appointment?
A trustee can
disclaim
or refuse to accept the
position
.
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What is the minimum and maximum number of trustees for land?
At least 2 and not more than 4 trustees are
required
for land.
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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
.
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Who has the power to appoint new trustees?
Existing
trustees have the
power
to
appoint
new
trustees.
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What is the maximum number of trustees that can be appointed?
A maximum of
four
trustees can be appointed.
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What happens if there are no remaining trustees?
The
personal representative
of the last
surviving
trustee may appoint a replacement.
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Under what condition can beneficiaries appoint a trustee?
Beneficiaries can appoint a trustee if no person is nominated in the
trust instrument
.
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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.
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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
.
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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.
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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.
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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.
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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
.
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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.
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What specific powers do existing trustees have regarding appointments?
Existing trustees have the power to appoint new trustees but cannot exceed
four
in total.
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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.
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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.
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What is the significance of a court order in trustee matters?
A court order can facilitate the removal of a trustee without their
consent
.
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