Trust created by testamentary will
ajay kumar sarawogi
(Querist) 18 August 2013
This query is : Resolved
A trust was created by TESTAMENTARY WILL in year 1887.The settlor vested his one property
in trust for hindu pilgrims and declared that
his all legal heirs and all legal heirs of his (settlors) brother shall becomes trustees
and jointly manage the trust.There is no amendment clause in will/trust instrument.
The settlors desire was that trust should
run in his name and should go on for ever
as possible.
My question are as follows:
--------------------------
1) can eldest legal heir of settlor and
eldest legal heir of settlors brother
can become sole trustees only without
the consent of court,when there are total
eight legal heirs from both side.
2) Can the trust property be let out to banks and not allowed for hindu pilgrims
against the settlors desire.
3)Can name of trust be changed against
the settlors desire.
4)Can the aforesaid trust be merged with
other trust or amalgamated.
5) Can trust property be donated in this
case.
6) if other legal heirs wants to be trustee
what he has to do.
7) Is consent of court necessary if any
modification or amendment in trust
instrument is done against wishes of
settlor.
8) Can the aforesaid two trustees can frame
their own rules for appointment of
trustees when the settlor in his will
has very specifically mentioned the
rules for becoming trustees.
Devajyoti Barman
(Expert) 19 August 2013
Looks like a professional query.
Clarify how are related with this problem.
SURENDRA KUMAR RAKHECHA
(Expert) 19 August 2013
Point wise answers :
.
1. No
2. No
3. No
4. No
5. No
6. Has to be allowed
7. Court is not empowered to change the instructions of the author.
8. No
.
.
It seems from the above queries that trustees are not ready to follow the instructions given by the author. The value of property might have reached too high and the trustees wish to go beyond the DESIRE of the SETTLOR.
.
If the present trustees do what they wish; if other heirs make a claim for mismanagement of the trust property; both the trustees may be debarred to remain as trustees.
.
Better to include all heirs as trustees and manage the property as per the TRUST DEED.
.
.
COMMON SENSE :
.
If things can go opposite to the directions of the settlor; then there is no meaning of making the trusts.
.
BIG QUESTION :
.
Are present trustees really trustworthy?
.
(When they are not honest to the other heirs' right).
Rajendra K Goyal
(Expert) 19 August 2013
1. No, the provisions of trust deed need to be followed.
2. Trust property can not be let out to banks.
3. Name of trust can not be changed against the settlors desire.
4. The trust can not be merged with other trust or amalgamated against the provisions of trust deed.
5. The trust property can not be donated in this case.
6. other legal heirs can be trustee as per the provisions of trust deed.
7. Modification or amendment in trust instrument can be done only as per the provisions of trust deed.
8. Aforesaid two trustees can not frame their own rules for appointment of trustees.
