Q&As
A Will in administration created a life interest trust which contains assets to be administered by trustees but no trustees have been appointed. Who can be appointed as a trustee and how?
The question acknowledges that there is a difference between the role of executor and the role of trustee. The function of the executor is to get in the estate and to clear it of debts, duties, and testamentary expenses. Once that has happened, the executor holds the net estate on trust for the persons who are entitled to it. If the Will contains a trust, then the trustees of that trust are the persons to whom the executor should then transfer the assets.
In practice, it is normal for the executors to be appointed also as trustees of any trusts arising under the Will, in which case, the division between the two roles can become
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