In the Matter of the H Trust [2018]JRC171
Introduction
In a scenario that may be familiar to many professional
trustees, the trustee in this case found itself in the position of
holding a single asset (a London property) but no funds with which
to maintain it or with which to pay the trustee's fees. The
trustee considered that the property should be sold, but not all of
the beneficiaries agreed.
This decision considers the trustee's duties in such
circumstances.
Facts
The trust in question was a conventional discretionary trust,
the settlor of which was now deceased. The beneficiaries were the
settlor's children and widow.
The trust had only one asset, held via a Jersey company, which
was a property in London. The property was not rented out, but was
used by the beneficiaries and their families when they visited
London.
