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Trust Law Issue

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Trust Law Issue Empty Trust Law Issue

Post by toolapcblack on Sat Nov 16, 2019 11:43 am

Hi All,
Need some advice I have a POA for my stepfather who has been placed in a Care home his property is placed in Trust for his blood daughter.
Although he has not passed the Bank who administer the trust have marketed the property to sell.
My stepfather had hardly no contact with his daughter and never wanted her to inherit the trust that was set up by his parents (I have letters from her to him stating I want no contact from you etc).

There is also another issue with the property some drainage issues the bank have been on to me as the POA to sort out (from his house insurance)as it probably wont sell with this problem.

the bank value the trust property at a certain amount XXXXXX but have listed it for some 80000 more than this amount? (as other properties have sold in the area for that value)

I would like the property, not for free, and would be willing to pay the XXXXXX that i have in writing they valued the trust for.

What can I do?
Thanks
in advance


Last edited by toolapcblack on Sat Nov 16, 2019 5:44 pm; edited 1 time in total (Reason for editing : to much personal info)

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Trust Law Issue Empty Re: Trust Law Issue

Post by assassin on Sun Nov 24, 2019 2:22 am

POA means nothing with regards to the trust as they are two different entities, the POA means you have to operate in HIS best interests as you are actually acting as an attorney in law and are bound by the same rules as any other attorney who has passed all the exams and is qualified. It is solely for the best interests of your step father if you have both parts, care and financial, while he is alive.

The trust is a different issue as it depends upon which type of trust it is, and who the trustees are, and if the property is in trust then it is the trustees who have to act in the best interests of the trust and its contents. Now here is the real issue, under bono vacantia legislation the assets can only be passed to a direct relative if they submit a claim and this is a blood relative who is a direct descendant.

As trustees they can do what they want, but have to follow the wishes of your step father and act in his best interests and if they think selling the house is in his best interets then if they outnumber you they can outvote you and get their way, this leaves something of a conundrum and the only way to deal with it is to seek professional advice to determine what is actually happening. If you have a written document claiming he didn't want his blood relative (daughter) to inherit and has sent such a letter to the trustees they are now in breach and a huge claim may follow, so expert advice only from this point me thinks.
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