One of our clients passed away last year. He and his wife were trustees of 2 trusts, so we need to replace him with one of their daughters.
In the process of preparing the deeds to appoint the daughter as trustee, we noticed that in one of the trusts, the trustees of the trust were part of the excluded class. This means that distributions of income and capital to the trustees was forbidden. We suspect that invalid distributions had been made for the last 30 years.
There was no great finanaical benefit to be had from the trust any longer, so we made me and the daughter the temporary new trustees in one clause. We then vested all of the assets of the trust in the wife in the next clause, and wound up the trust in the following clause. As a result, it was a very short-lived appointment as trustee.
For Trust deed variations and the appointment of new trustees, see Michael Paterson & Associates.