Contracting with Trusts – Is a Majority Resolution Valid?
Many of us will either be involved in trusts as trustees or will contract with them as outsiders at one time or another – often in the context of a property transaction.
Beware! As a recent Supreme Court of Appeal decision starkly reminds us, trusts are strange creatures, and you need to tread carefully in dealing with them. We’ll look at questions of whether trustees must always act jointly and unanimously or whether it is enough for a majority of them to sign resolutions and documents. Our punchline is a strong warning note on what to look for when contracting with any trust.
Don’t Accidentally Disqualify Your Chosen Heirs from Inheriting!
“Death is not the end. There remains the litigation over the estate.” (Ambrose Bierce) Your will (“Last Will and Testament”) will always be the keystone of your estate planning, and a recent High Court decision sounds yet another warning to beware the “do your own will” concept. By not having his will drawn by a […]