Trustees—appointment of trustees


Published by a ½Û×ÓÊÓƵ Private Client expert
Practice notes
In-house

Trustees—appointment of trustees


Published by a ½Û×ÓÊÓƵ Private Client expert

Practice notes
In-house
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Original trustees

Trustees will usually be appointed by the instrument that brings the trust into existence. The trust instrument should also make provision for any additional appointments that may be necessary during the continuance of the trust.

The Trustee Act 1925 (TA 1925) makes provision for any additional appointments that may be necessary but it may be expressly excluded.

The settlor will usually name those who they wish to act as trustees and when the settlement is made in the settlor’s lifetime the trustees will normally be parties to the trust deed.

Where the settlor simply declares an intention to hold some of their property on trust going forwards, they will themselves be the sole trustee. Alternatively, they may decide to appoint other trustees as well and take steps to vest the property in themselves and their co-trustees jointly.

Where trusts are created by Will, it is usual (but not obligatory) to appoint the same persons to be both executors and trustees. The fiduciary duties of executors are very similar to those of trustees but they are not identical

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Jurisdiction(s):
United Kingdom
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Key definition:
Fiduciary definition
What does Fiduciary mean?

A person, or entity, who acts for the benefit and on behalf of another person or group of persons. A fiduciary holds a legally enforceable position of trust.

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