“Love is grand. Divorce is a hundred grand.” (Anon) That’s a great scenario whilst the marriage prospers, but what happens on divorce? A recent High Court decision addressed one such scenario – Trusts may be formed for a variety of reasons, and the purpose and structure of each trust will inform the choice of trustees. When it comes to families aiming to preserve and protect family assets for future generations, often both spouses are appointed not only as...
“…where there is disharmony, the essential test is whether it imperils the Trust estate or its proper administration” (extract from judgment below) Trustees are of course supposed to work together to protect and further the interests of their trust and its beneficiaries, but the fact is that on occasion serious disputes can and do arise. If settlement negotiations fail and if there is no alternative but to forcibly remove a trustee our courts have the power...