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ARTICLE · 08 MAY 2019

Executors And Trustees - Knowing When To Retire Gracefully

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It can be an honour to be appointed executor/trustee; that someone trusts you to look after their assets and act in the best interests of their loved ones. But it can also be a poisoned chalice.

United KingdomEmployment and HR
Natasha Stourton
Natasha Stourton
Stephen Richards
Stephen Richards
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It can be an honour to be appointed executor/trustee; that someone trusts you to look after their assets and act in the best interests of their loved ones. But it can also be a poisoned chalice. Tensions can easily arise with beneficiaries given it is them who stand to lose if the estate/trust is managed poorly, but the executors/trustees who wield control.

Some executors/trustees may wish to throw in the towel at the slightest whiff of a complaint, but this too can lead to criticism. Others may hold on to their position longer than they should out of a misplaced sense of duty or misguided desire to protect their reputation.

The recent case of Long v Rodman suggests holding on in the face of hostility may be ill-advised.

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