Trustees — Appointment, Powers and Duties — SQE1 FLK2 Trusts Law

Six friends are named as trustees of a farm, all six are willing and able, and only four of them are trustees at all.

Practise this topic with exam-style questions: sqe1prep.co.uk

In this episode:

• Four trustees maximum for land, two minimum for a valid receipt
• Saunders v Vautier terminates a trust, it does not appoint trustees
• Duty of care is higher for professionals and for claimed expertise
• Maintenance is income for minors, advancement is capital for anyone
• Investment policy is delegable, distribution decisions are not

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