Trust Issues: Trustee Duties – And Disputes

An ongoing court battle between William Seymour, Earl of Yarmouth, and his parents, the Marquess and Marchioness of Hertford, over the governance of the family trusts has highlighted the challenges often faced by trustees seeking to balance the interests of different beneficiaries.

The Dispute

The Seymour family trusts are run by two trust corporations, the Ragley Trust Company Ltd and Seymour Trust Company Ltd. The Earl of Yarmouth has issued a High Court claim for removal of the current trustees, alleging that there has been a general trend of misdirection in the trustees' management of the estate, and that as a result, the relationship of trust and confidence between the Earl and the trustees has irretrievably broken down. Issues in the claim include allegations that the trustees have refused to release funds to cover the Earl's children's school fees, as well as a claim that the family were evicted from their cottage on the Ragley Hall estate with only a few