The removal of a trustee

removal of trusteeWhat options are available if a trustee does not execute his mandate in the best interest of the beneficiaries as set out above, but is unwilling to resign as a trustee?

Trusts are regulated by the Trust Property Control Act 57 of 1988 (“the Act”).

In simple terms, a trust arrangement always involves three parties, namely; a trust creator or founder, the trust beneficiaries and the person/s who manages the trust, i.e. the trustee/s.

Trustees act in a fiduciary capacity which means if they do not act accordingly or make mistakes or are negligent in any way in this context, they may be held liable by the beneficiaries.  The problem is, that many trustees are appointed without consideration of the duties and obligations imposed on them in this capacity.  Or some have no appreciation for the fiduciary duties they assume when they accept appointment. Or simply do not take the time to acquaint themselves with the trust deed or law when they assume appointment.

Whatever the reason for noncompliance it is important for trustees and beneficiaries alike to empower themselves and to ensure compliance.

Trustees must always act in the best interests of the trust beneficiaries and a trustee that fails to adhere hereto, must be removed.  However, the correct approach in the removal of this trustee must be followed at all times.

<read more>

There are many medicines. Certain medicines are popular. Other treat peculiar ailment like Lupus nephritis. DIFLUCAN, one of of a new group of triazole antifungal agents, is available as a powder for oral suspension. There are numerous drugs for each afflictions. If you’re concerned about erectile soundness problem, you probably know about levitra 10mg. Very likely each man knows about levitra cost per pill. (Read more cheapest generic levitra). Once people are looking for drugs to resolve sexual health problem. On occasion another disease will lead to erectile disfunction. There are risks possible with any type of treatment. Certainly you need to take dangerous side effects in consideration before purchasing any medicine. Get in touch with your body and stay healthy for long years.

, , , , , , ,

No comments yet.

Leave a Reply

32 + = 41