News

Matthew Yates comments on the rise of disputes over family trusts in the FT

  • October 27, 2017
  • By Hunters Law

Sibling rivalry and inter-generational bickering have driven the number of people contesting family trusts to record levels this year, according to new figures.

Lawyers say that families are often more fragmented, with divorce and remarriage routine. They are also taking squabbles over family-owned wealth to court.

Matthew Yates, a partner at law firm Hunters said cases involving trusts going to court do not always involve a claim against a fellow trustee. Claims can encompass trust administration; claims by or against trustees; disputes between trustees; disputes between beneficiaries; variation of trusts, or removing a trustee.

In spite of rising trust disputes heading to the High Court, Mr Yates said mediation could provide a cheaper way to resolve a trust conflict.

“Where there may need to be an ongoing relationship between the trustees and the beneficiaries after the disagreement has been dealt with, a non-adversarial approach could provide long-term benefits,” says Mr Yates.

“Although the court may need to rubber-stamp agreements reached between the parties after alternative dispute resolution has taken its course, those costs will be far lower than a full-blown trial, and the possibility of rebuilding relationships is far more likely.”

Experts also recommend that trustees manage beneficiaries’ expectations by giving a clue, typically written guidance, as to the person’s reasoning for creating the trust and how he or she envisaged it might be run.

Read the full article in the FT here.

Related News

Aug 02, 2021
Harriet Murray explores the implications of paying for the pandemic with a wealth tax in Lawyer Monthly
Jul 22, 2021
Hunters’ success in the Chambers HNW 2021 Guide
Jul 19, 2021
Daniel Watson examines the Law Commission’s proposal for reform of the Wills Act 1837 in EPrivateClient
Jul 15, 2021
Flora Nelmes examines why a solicitor should be used for probate
Jul 12, 2021
Flora Nelmes examines the stages of the probate process
Jul 09, 2021
Molly Wills discusses MoJ’s consultation on a proposal to align probate fees in England and Wales
Jun 30, 2021
Flora Nelmes examines the first steps before applying for probate
Jun 24, 2021
Flora Nelmes discusses the fees when applying for the Grant of Probate
Jun 22, 2021
Jo Carr-West and Lara Barton discuss CGT for divorcing couples in WealthBriefing’s Family Wealth Report
Jun 21, 2021
Harriet Murray examines the analysis of a Wealth Tax in relation to the circumstances of the COVID-19 crisis

© Hunters Law LLP 2021 | Privacy NoticeLegal & Regulatory | Cookies Policy | Complaints Procedure.

Hunters Law LLP is authorised and regulated by the Solicitors Regulation Authority (number 657218)