Help re: removal of trustee

singhr2

Hi, want a bit of advice. I am currently a joint trustee for some policies for my sons with my ex wife. We had a messy divorce a number of years ago and I got custody of my sons.

Now when enquiring about the 3 policies, the financial comp[any had claimed they had been encashed fraudulently (without my consent). They have now been reinstated.

However, the ex wife was not willing to release the monies to the sons, and has since moved.

The financial company are unwilling to assist us. How can we go about to remove ex wife as trustee. I am on benefits and cannot get legal aid. The money was meant to be for the sons education.

Any help advice would be greatly appreciated.

SevenOfNine

Who fraudulently cashed, or attempted to cash, them in? If it was ex wife then she was acting dishonestly & failing to keep the beneficiaries informed of what she was doing with the assets in the trust.

How old are the sons and how far away are they from the policies paying out to them?

Most likely a court would have to remove the wife as trustee - but it won't be because you two have fallen out, so if it wasn't her who tried to swipe the money the court may not agree with your view.

To be absolutely fair, is she worried that YOU want this money (& I don't mean for your sons)?

You might be better on the CAB board, or going to the CAB if you can. I'm wondering if the boys can have her removed.

xylophone

The policies have matured? The trust was a bare trust so that the maturity proceeds are properly due to the sons rather than to the proposer of the policy?

The insurance company refuses to release the money to the beneficiaries without the signatures of both Trustees?

Are the beneficiaries over 18?

singhr2

Thanks for the replies.
All the policies have matured. The sons have been living with me since the divorce as the ex wife did not want any contact with them (the divorce was in 1996). We have not seen her since nor do we not know where she lives.

The ex wife managed to forge my signature and the monies were paid do her by mistake, the finance company have admitted this and it was their error, so have fully reinstated the policies.

They are unable to contact her as they do not know where she lives.
I understand this is not my money, but the beneficiries and I was always under the impression the money would be paid to them. (The money is to be used for their own purposes e.g wedding, house etc)
Can we make an application to court ourselves to remove her as trustee?
Is there any alternative to going to court?

We have all previous correspondence proving all this, and previous solicitors who attempted to contact her to resolve this had no luck.

The sons are all over 18

paddyrg

If she's been demonstrated to have attempted to defraud the trust, I'd imagine the courts would agree to her removal pretty easily

Reaper

As xylophone says most trusts end when the child is 18 and the money is paid out to them. The trustees cannot prevent this.

However as you are talking about removing your ex-wife as trustee is this something different which continues beyond age 18?

kidmugsy

Don't forget your public duty to see the ruddy woman jailed.

singhr2

Thanks for the replies. I have been fighting this for years!

The financial company where the trusts are held (Sun Life) will not release the funds to the beneficiaries The have stated that they are legally bound to pay the funds to the trustees jointly.

I would prefer the funds to go directly to the beneficiaries.

We had a really bad divorce and was pretty much done badly by the ex wife who basically cleaned me out. I have raised my 3 kids by myself, and only want them to have what they are entitled to.

Reaper

I am surprised Sun Life say they cannot legally pay out to the beneficiaries. I would challenge them to point to the law that prevents them as the right for adult beneficiaries to take the proceeds has been established in law many times irrespective of what the trust says. e.g here

You certainly have the right to remove a trustee if they have failed in their duty as your ex-wife clearly has. However you would need to seek legal advice to do it.

Before resorting to that check the terms of the trust. If you alone are listed as the settlor (donor) there is just a possibility you might have the right to dismiss and appoint trustees. A long shot maybe but worth a look.

robatwork

Shouldn't you be going to the police as your ex has stolen from your children?

mgdavid

robatwork wrote: »

Shouldn't you be going to the police as your ex has stolen from your children?

having read the whole thread could you please explain how you think this will help the OP's situation.