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Hi. I recently was made aware that my family home was left in trust to me and my two siblings by my grandmother, as laid out in the will she wrote three years before her 1993 death. My mother has continued to live in the house but now, together with me and my siblings, she would like to dissolve the trust. However, both the named trustees (one a solicitor, the other my mother’s sibling) are now dead, which obviously complicates this process. My question: is it possible to dissolve the trust on a ‘DIY’ basis - i.e without incurring solicitor fees? We have been quoted £2000 by a solicitor for this but unfortunately do not have any money at all at the moment (cv19 related loss of income etc). Further, if it is possible, do you know how we might achieve this aim of dissolving the trust.*
The three beneficiaries (myself and my two siblings) are all adults now (I’m in my 30s and they are in their 50s) and my grandmother’s will stated that if we are all over the 18 we could, if an agreement, dissolve the trust. Am I right in thinking that we must appoint new trustees in order to dissolve the trust? Could the new trustees be anyone - i.e my partner or those of my siblings. I would be hugely appreciative of some of help/guidance with this. Thank you
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The three beneficiaries (myself and my two siblings) are all adults now (I’m in my 30s and they are in their 50s) and my grandmother’s will stated that if we are all over the 18 we could, if an agreement, dissolve the trust. Am I right in thinking that we must appoint new trustees in order to dissolve the trust? Could the new trustees be anyone - i.e my partner or those of my siblings. I would be hugely appreciative of some of help/guidance with this. Thank you
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