Trustee account problems !

kazzystar1973

Bear with as this is complicated !!  

My husband and his brother are named trustees on their late fathers will - they have a sister who has mental health issues and her third of the assets (£55,000) was requested in the will to be put in trust fund for her so that it could be dripfed to her and she wouldn’t lose benefits. Our solicitor is saying no one will touch a trust fund under £250,000 and he is really struggling to find a trustee bank account. It has been agreed that the sister can get £500 per month without affecting benefits so that is what is currently being proposed - BUT my husband (first named trustee in the will so gets asked everything) wants nothing to do with it as there is bad blood between the brothers and their sister going back to when their mum left them when they were kids as their sister lives with their mum now and neither want anything to do with her. It is starting to affect my husbands MH and I am trying to do whatever I can to help - any advice please on how to make this as easy as possible ?

elsien

Can he not just step down if he doesn’t want to be involved?

Keep_pedalling

It is difficult, because there is not sufficient funds in the fund to be able to pay a professional administrator. Finding a financial organisation that will hold the cash should not be so difficult and I know NS&I d o trust accounts.

I would recommend your husband talks to Mencap for some advice.

kazzystar1973

As far as I am aware you are not able to step down as a trustee - but please correct me if I am wrong ?  

And thank you for the info about NS&I - I will look into that as I know that’s a name I would trust !

elsien

kazzystar1973 said:

As far as I am aware you are not able to step down as a trustee - but please correct me if I am wrong ?  

And thank you for the info about NS&I - I will look into that as I know that’s a name I would trust !

According to this you can in some circumstances.
A guide to disputes with trustees & executors - Willans

diego_94

Look at Cater Allen, they do trust bank accounts

kazzystar1973

Thank you for everyone’s help with this - families are so complicated and I just want to try to help smooth things over to keep as many happy as possible