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Trusts and Estate Planning

Generally, when you appoint an Independent Professional Trustee, you can dump them anytime you want, because the Trust Deed says that the majority of trustees can remove a trustee (except that they cannot remove you).

However, what if there are only 2 trustees, you and the professional? Again, this should not be a problem as long as the trust deed allows you to appoint additional trustees. You will simply appoint a new professional and the two of you will remove the first.

Of course, the simplest way is to ask the professional to resign, which any self respecting professional would do without hesitation.

Then, I occasionally see a trust deed prepared by the professional, which not only appoints himself as the professional but also states that the 1st trustees may not be removed! And he is included in the definition of the 1st trustees. Now, you have a problem.


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