Trustees have a number of duties which they must comply with to ensure that they act in the best interests of the beneficiaries of the trust and in accordance with the provisions of the trust instrument and the law relating to trusts and trustees. In particular they must:
- Keep accounts and records of all transactions relating to the trust and trust property
- Act impartially
- Provide information to beneficiaries
- Comply with their obligations under the trust document
Where trustees fail to comply with their duties or act in a way which is not authorised by the law or the trust instrument, then the beneficiaries may be able to bring breach of trust claims against trustees or seek an order replacing the trustee with someone more suitable. Our Will, Trust and Estate Disputes team have the requisite expertise to advise you on all manner of breach of trust matters.
Some of the common causes of action against trustees include:
- Failure to act impartially
- Distribution of assets to beneficiaries who are not entitled under the trust document
- Making personal gain or profit from the position of trustee
There are various remedies available to beneficiaries in breach of trust claims which ultimately aim to compensate them for any losses suffered as a result of the breach by the trustees.
