Q&As

Is it possible for two partners of a firm to retire their role as trustees of a trust on behalf of the entire firm and bind all the other partners to this in order to save each and every partner having to sign? Could a similar process be undertaken as when partners renounce to the firm's role as executors on behalf of all of the partners in the firm?

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Published on LexisPSL on 06/11/2020

The following Wills & Probate Q&A provides comprehensive and up to date legal information covering:

  • Is it possible for two partners of a firm to retire their role as trustees of a trust on behalf of the entire firm and bind all the other partners to this in order to save each and every partner having to sign? Could a similar process be undertaken as when partners renounce to the firm's role as executors on behalf of all of the partners in the firm?
  • Sample clause 1
  • Sample clause 2

The answer to this question will depend on the precise terms of the Will.

There are numerous possible clauses for the appointment of partners in a law firm (a partnership) as executors and trustees of a Will. By way of example only, we set out below two possible clauses for the appointment of the executors of the Will and the trustees of any trust created by it, with a brief description of the effect of each.

Sample clause 1

‘I appoint the partners at the date of my death in the firm of [name of firm] or the firm or incorporated practice which at that date has succeeded to and carries on its practice to be the executors of this Will and I express the wish that two and only two such partners shall act as such executors and I direct that those who first prove this Will shall be the trustees of my estate.’

In this case, the two partners (or more of the expression of wish is not followed for some reason) who become executors would be the only two trustees of any trusts created by the Will. They would not be trustees on behalf of the other partners at the date of de

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