What are the options for a co-executor when the trust set up in a will is not valid, and the other executors want to give the beneficiary a lump sum? | Lawhive - Solicitors & Lawyers Online
What are the options for a co-executor when the trust set up in a will is not valid, and the other executors want to give the beneficiary a lump sum?
NQ Testamentary trust question. My Dad left 1/3 share of his estate to my sister (aged 52). In his will, he states that it is to be held in trust for her and she can receive £2000 a year. There are no other documents/letters regarding this trust. As Co executor with my brother and uncle we chose to use a different solicitor than the original one who drew up the will. We have been told that the trust has not been properly set up within the will, therefore it is to be considered a bare trust and my sister (who has alcohol and mental health issues) can ask for the total amount (£40000) whenever she wants. Can I do anything to restrict her access to the money? As executors we are all in agreement as to why my Dad wanted her money in a trust but my brother and uncle are prepared to let her have a lump sum as per solicitors advice. What are my options please?

Anonymous

15th March 2022

Top Answer
Can anyone help please?

Anonymous

15th March 2022

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