If you are the beneficiary of a trust and you are dissatisfied about the way in which an appointed trustee is acting, then it is important for you to understand your options for holding them to account. Your concerns may relate to the mismanagement of trust assets, the preferential treatment being shown to other beneficiaries, the unlawful disposal of trust property, the unacceptable dissipation of trust funds or even the suspected misappropriation of trust income.
As Nick Timmings, Partner with Petersfields LLP explains, ‘There are a number of steps that you can take to have your concerns about a trustee addressed. These range from asking them to explain their actions and provide certain information, to applying to the court to have them forcibly removed from their position and replaced with someone else.’
However, it is vital that you consider your options carefully and take specialist legal advice in order to achieve the best outcome and prevent a disagreement escalating into a formal dispute.