All trustees have Personal and Unlimited liability if accused of negligence or breach of trust. Unless specifically allowed for in the trust deeds a trustee cannot be reimbursed for such misdemeanours or legal expenses from the trust.
Until recently it has not been possible to find insurance that offers comprehensive financial and legal expenses cover but Castleacre have developed a specific policy working with one of our insurers to help protect lay trustees.
Our trusts advisor Paul Rose explains how Trusts and Trustees can be vulnerable to claims through some interesting case studies
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.