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Will trust admin questions
In her Will a mother in law made a Will in which her property was to be passed to a Trust when she died with her four children being equal beneficiaries of the trust, and her (third) husband was given a life interest (to live) in the property with no obligation to pay rent. Only two of the four children were named as Trustees together with the husband.
After the death of the mother in law one of the children, who was also a Trustee, died not long after. A Deed of Appointment was then drawn up (2019) in which the other two children were appointed as new trustees; this Deed included and referred to a document schedule listing the Will of the mother in law, the death of the mother in law, the grant of probate for the mother in law, and the death of the child. The Deed also mentioned the intention to transfer the property now in trust to the Trustees.
Following the recent death of the husband:
1) Is a change of the Trust’s registration with HMRC to remove the husband as a Trustee sufficient or must another Deed be drawn up
2) Do you have to have a Deed of Appointment to take assets out of a Will trust?
After the death of the mother in law one of the children, who was also a Trustee, died not long after. A Deed of Appointment was then drawn up (2019) in which the other two children were appointed as new trustees; this Deed included and referred to a document schedule listing the Will of the mother in law, the death of the mother in law, the grant of probate for the mother in law, and the death of the child. The Deed also mentioned the intention to transfer the property now in trust to the Trustees.
Following the recent death of the husband:
1) Is a change of the Trust’s registration with HMRC to remove the husband as a Trustee sufficient or must another Deed be drawn up
2) Do you have to have a Deed of Appointment to take assets out of a Will trust?
