📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Family Trusts, any good?

Options
2»

Comments

  • Forever_Forest
    Forever_Forest Posts: 301 Forumite
    Your_Hero wrote: »
    It's as simple as you've described it. If you set up a lifetime trust, (i.e. whilst you are still alive compared to a will trust when you're dead) you are the settlor and have full control over the trustees so you can add or remove them as you like. You can also be a trustee.


    Can a Trustee of a Will trust be removed before I die?

    Thanks
  • Your_Hero
    Your_Hero Posts: 883 Forumite
    Forever_Forest wrote: »
    Can a Trustee of a Will trust be removed before I die?

    Thanks

    Yes you can
    Stephen Covey once said that "when you teach once, you learn twice". That is the primary reason for my participation on the forums as an IFA.

    Although I strive to provide accurate information in my posts, there may be the odd time when I fail. Yes I know it's hard to believe but even Your Hero can make mistakes. Apologies in advance.
  • Mattygroves2
    Mattygroves2 Posts: 581 Forumite
    Forever_Forest wrote: »
    Can a Trustee of a Will trust be removed before I die?

    Thanks

    Yes change your will - they don't become trustees until you die.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.2K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.3K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture