Trusts & Trustees
Trusts and Trustees
Trusts are an agreement between a person who owns an asset (a settlor) and a person who agrees to manage the asset (the trustee) for the benefit of another person (the beneficiary). The asset is transferred to the trustee ‘on trust’ – which means they will manage the asset according to the settlor’s wishes and not benefit from the asset themselves (unless they are also a beneficiary).
Types of Dispute
Disputes can arise between trustees, beneficiaries and settlors that include:
- Trustees being accused of not sharing information, inefficiently managing the trust, charging too much (when they are permitted to charge a fee) or not following the settlor’s wishes.
- Beneficiaries making unreasonable demands on the trustees or feeling they are being ignored.
- Settlors being unhappy that the objectives of their trust are not being achieved.
Through mediation we offer a cost effective, efficient and private way of resolving trust and trustee disputes – issues that can complicate the way trusts are managed, rack up thousands of pounds in legal costs and deprive beneficiaries of the benefits they are entitled to.