Publication of Trust details after probate.

Cardew

After probate a Will is a matter of public record.


Does anyone know the position on a trust?


My pal was told by a family friend he was a major beneficiary of her discretionary trust; she died 3 years ago. He had/has no idea who are trustees, other [FONT=&quot]beneficiaries or contents of trust. However he has just received a letter from a firm of solicitors [/FONT]saying her property has been sold and he is due £xx.



Is he entitled to know details of the trust?

Yorkshireman99

Cardew wrote: »

After probate a Will is a matter of public record.


Does anyone know the position on a trust?


My pal was told by a family friend he was a major beneficiary of her discretionary trust; she died 3 years ago. He had/has no idea who are trustees, other [FONT=&quot]beneficiaries or contents of trust. However he has just received a letter from a firm of solicitors [/FONT]saying her property has been sold and he is due £xx.



Is he entitled to know details of the trust?

If the trust is set up by the trust then the will will say who the executors and trustees are.

Cardew

Thanks.


However it is the details of the trust since the death of his friend that is of interest. e.g.


How much was the property sold for? and to whom? - there is no trace of it being sold on the internet.



How many other [FONT=&quot]beneficiaries?[/FONT]
[FONT=&quot]
[/FONT]
[FONT=&quot]Is he entitled to see all details of the trust?
[/FONT]

SeniorSam

If a Trust was set up in a person's Will, then the details of the Will are published after Probate. Get a copy of the Will and you will see the terms of the Will. However, if the Trust was set up in another way, you may not see a copy.

Most solicitors will be happy to let you know details of the Trust as a beneficiary, so make contact with them and ask.
Sam

getmore4less

You start with the will.

Unless stated otherwise the trustees of any trust created are the executors.

That's your starting point.

Asking for an inventory and account of the trust is the first step in identifying what has happened to the assets in the trust.

If you know the property then if sold recently that may not show on the land reg yet but if marketed then details may still be around on the net.

Marcon

getmore4less wrote: »

You start with the will.

Unless stated otherwise the trustees of any trust created are the executors.

That's your starting point.

Asking for an inventory and account of the trust is the first step in identifying what has happened to the assets in the trust.

If you know the property then if sold recently that may not show on the land reg yet but if marketed then details may still be around on the net.

Won't help if - as seems to be the case here - it is a secret or half-secret trust. All the will will show is the identity of the executors/trustees, not what the assets are or how they will be distributed. Your pal can ask the solicitors for details but the point of such trusts, as the name suggests, is that they aren't public property.

Cardew

Marcon wrote: »

Won't help if - as seems to be the case here - it is a secret or half-secret trust. All the will will show is the identity of the executors/trustees, not what the assets are or how they will be distributed. Your pal can ask the solicitors for details but the point of such trusts, as the name suggests, is that they aren't public property.

You are correct. He has asked the firm operating the trust and that is the line they are taking. The beneficiaries have no rights and essentially they take what they are offered.

Marcon

Cardew wrote: »

You are correct. He has asked the firm operating the trust and that is the line they are taking. The beneficiaries have no rights and essentially they take what they are offered.

Which is why they are called 'discretionary' trusts, so you might reassure your friend that what they are saying is standard practice in this situation.