A first-rate reputation, handling cases with calm diplomacy.
A trustee or executor is in a position of trust. As such, he or she must comply with a number of duties, such as preparing accounts, providing information to beneficiaries and acting impartially. Failure to do so could result in a loss to the trust or estate and a claim against the trustee or executor for breach of trust.
Our team has experience of advising both those who have concerns about the actions of a trustee or executor in relation to a trust or estate under which they are a beneficiary as well as those who are themselves trustees or executors and are facing criticism from the beneficiaries about the running of the trust or estate.
If the actions of a trustee or executor have caused loss, there are various remedies available including the requirement that the trustee compensate the trust or estate, the possibility of obtaining an injunction to prevent a trustee carrying out a particular act or an application to remove the trustee or executor.
Penningtons Manches can help ensure that potential breaches of trust are avoided or dealt with in a way which preserves the relationship of trust and confidence between trustees, executors and beneficiaries. This can be of particular importance for family trusts. In addition, we can advise on potential claims and remedies after the event.
Advising trustees regarding a misappropriation of trust assets by a co-trustee and successfully obtaining repayment to the trust - together with interest and costs – as well as the removal of the co-trustee.
Acting for trustees to obtain a court order to set aside a transfer into trust following erroneous advice from a professional co-trustee and his removal. We recovered the costs of the court proceedings from his insurers.