s. 27: Court, or a person named in the trust instrument, can appoint a new Ts & the Ts have same powers as if they were originally appointed T s.29: once appointed T, property is vested in the T without conveyance or assignment s. 31: court can appoint a new T that either substitutes a T or adds to existing Ts s. 32: T appointed under s. 31 has same rights and powers as if they were appointed by decree or by judgement in a proceeding (ii) Resignation Trustee Act, s. 28 If more than 2 Ts, can resign from being a T without new T being appointed if co-T’s agree (iii) Removal of Trustees Trustee Act, s. 30 Ts can be removed and a new T substituted in their place on application to the court by any B not under legal disability, with consent and approval of majority of Bs, in interest and number, who are also not under legal disability Principles applicable to T removal (Parker v Thompson): the court will not lightly interfere with the testator’s choice of estate trustee; clear evidence of necessity is required; the court’s main consideration is the welfare of the Bs; and the estate trustee’s acts or omissions must be of such a nature as to endanger the administration of the trust. Conroy v Stokes F: B’s sought order to remove Ts; Order granted; Ts R: Removal requires an applicant point to acts and omissions that endanger the trust property or show want of honesty, appropriate capacity, or reasonable fidelity the ultimate test: impairment of the welfare of Bs there generally should be positive misconduct to merit Ts being removed Re Consiglio Trusts F: Serious disagreement amongst Ts such that management of trust was inefficient; Could the Ts be removed? R: was still grounds to interfere to protect Bs interests and appoint a corporate T, even tho no misconduct misconduct on the part of a trustee is not a necessary requirement for court to interfere to protect Bs. when the continued administration the trust for due regard of the Bs has become impossible or improbable, the court is obliged to intervene
s. 27: Court, or a person named in the trust instrument, can appoint a new Ts & the Ts have same powers as if they were originally appointed T s.29: once appointed T, property is vested in the T without conveyance or assignment s. 31: court can appoint a new T that either substitutes a T or adds to existing Ts s. 32: T appointed under s. 31 has same rights and powers as if they were appointed by decree or by judgement in a proceeding (ii) Resignation Trustee Act, s. 28 If more than 2 Ts, can resign from being a T without new T being appointed if co-T’s agree (iii) Removal of Trustees Trustee Act, s. 30 Ts can be removed and a new T substituted in their place on application to the court by any B not under legal disability, with consent and approval of majority of Bs, in interest and number, who are also not under legal disability Principles applicable to T removal (Parker v Thompson): the court will not lightly interfere with the testator’s choice of estate trustee; clear evidence of necessity is required; the court’s main consideration is the welfare of the Bs; and the estate trustee’s acts or omissions must be of such a nature as to endanger the administration of the trust. Conroy v Stokes F: B’s sought order to remove Ts; Order granted; Ts R: Removal requires an applicant point to acts and omissions that endanger the trust property or show want of honesty, appropriate capacity, or reasonable fidelity the ultimate test: impairment of the welfare of Bs there generally should be positive misconduct to merit Ts being removed Re Consiglio Trusts F: Serious disagreement amongst Ts such that management of trust was inefficient; Could the Ts be removed? R: was still grounds to interfere to protect Bs interests and appoint a corporate T, even tho no misconduct misconduct on the part of a trustee is not a necessary requirement for court to interfere to protect Bs. when the continued administration the trust for due regard of the Bs has become impossible or improbable, the court is obliged to intervene
Smith%20(John)_69_Winter_2016_Lisa_Guidi.docx