Probate Valuation Of Chattels: Choosing the right Trustees

Jamie Murray

Quality fast and reliable service with a cracking bunch of lads definitely recommended

Bill Mitchell

Contracted this company to clear the flat of my deceased mother. Two young guys cleared EVERYTHING out of the rented property, including furniture, carpets, ornaments, white goods and food/household products, politely, efficiently, and respectfully. Excellent service.

Charles winter

The guys from Northern House Clearance have just cleared a house for me in Scotland. The house was packed not only with a lifetimes worth of memories, but all the clutter that goes with it. Within 2 days it was emptied down to the floorboards. A great job from a good team of lads. Highly recommended.

Graeme hatton

An excellent 5 star service. Firstly the compassion shown due to the circumstances which resulted in having to use their services, not just on the phone but by the team who arrived, on time, to perform the job. Above all a friendly attitude goes a long way in stressful times. Professional from the start to the end of the day and due to the amount of clutter a second day was needed. I could not believe how much was cleared in just one day, it was as if the clutter had it's own clutter to clear. Hope that I never need to use them again, but if I have to clear another property they will be the only people that I call. Highly recommend them. G.Hatton. Cheshire.

Lorna Hamilton

Fantastic service. Highly recommend. The team was so helpful.

Richard Foster

The guys from Northern house clearing cleared my deceased brothers house which was in a state. They were very discrete and great guys very understanding at such a sad time. Great job guys thank you.

Xiu Yun Chen

This is a good company would highly recommend these guys. Very efficent and helpful.

Laura

Highly recommended. From my initial enquiry I found them to be efficient and professional and was given an immediate quote. On the day the guys arrived promptly and were friendly, helpful and thorough. I would not hesitate to use this company again and I would recommend to others. I felt in good hands and I, m very happy with the service I received.

Ruth Lawrence

The team arrived bang on time and began work immediately. They continued for five solid days and completed the entire clearance of my late uncles house, which was a case of extreme hoarding over many decades. They even removed carpets, curtains and swept up so the house was ready for sale. They were exeptionally hard working, polite and charged a reasonable price for this incredibly difficult job. Terrific service, absolutely recommended.

In for the long haul – Trustees

Trustees run any trusts set up by your will. A trust is a legal device whereby a trustee is legally responsible for looking after property for a beneficiary. Property is not just bricks and mortar – it means any type of asset, such as cash or shares. A trustee can also be a beneficiary. If you don’t plan to set up a trust in your will, you won’t need to name trustees.

Trusts are most commonly used to leave property to a minor (someone under 18).

Remember that being a trustee can be a long and drawn-out process. If, for example, the minor you left property to is only a few months’ old when you die, then the trustees have to look after the property for them for the best part of 18 years. In cases where a trust is set up to provide income for the whole of the life of a beneficiary (for example, a trust set up to provide for a spouse who keeps going strong for years and years), it can end up running for decades. Often with long-running trusts the trustees retire and are replaced by someone else who is happy to fill in the void. The replacement or retirement of a trustee may require the permission of the trustees, the courts, or the trust beneficiaries.

Trustees can be:

Family friends
Solicitors
Siblings

Choosing a trustee who has all the qualities of an executor but who is also prepared to be in it for a long haul. You can use the same people as executors and trustees.

Trustees can be relieved of their duties by the beneficiaries, provided that they are all in agreement. Furthermore, if one of your trustees refuses to act, or dies, existing trustees have the power to appoint a replacement.

Key duties of trustees:

Any trustee you appoint has a duty to treat all your beneficiaries equally and fairly.
Trustees are obliged to:

Act unanimously if there is more than one trustee.

Ensure ‘reasonable care’ is taken of the assets in trust; for example, a house in trust should be properly insured.

Not make a profit from the trust. Nor are trustees allowed to charge for their services, unless the charges are specified in the will. Trustees, like executors, can claim their expenses though.

Be prepared to provide accounts is beneficiaries of the trust ask.