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Trust and trustee – Remuneration of trustee. In considering whether the remuneration charged to the family trusts by the first defendant professional trustee had been reasonable, the Chancery Division held that the first defendant had discharged the burden of proving an agreement as to his hourly rate and that the claimant's knowledge of the charges had amounted to acquiescence. Accordingly, the first defendant's hourly rate and charges relating to company specific activities had been reasonable, but a discount of 7.5% was applied to all charges to reflect charges for excess administration.
Trust and trustee – Remuneration of trustee. In considering whether the remuneration charged to the family trusts by the first defendant professional trustee had been reasonable, the Chancery Division held that the first defendant had discharged the burden of proving an agreement as to his hourly rate and that the claimant's knowledge of the charges had amounted to acquiescence. Accordingly, the first defendant's hourly rate and charges relating to company specific activities had been reasonable, but a discount of 7.5% was applied to all charges to reflect charges for excess administration.
Sam Townend KC explains the Bar Council’s efforts towards ensuring a bright future for the profession
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Westgate Wealth Management Ltd is a Partner Practice of FTSE 100 company St. James’s Place – one of the top UK Wealth Management firms. We offer a holistic service of distinct quality, integrity, and excellence with the aim to build a professional and valuable relationship with our clients, helping to provide them with security now, prosperity in the future and the highest standard of service in all of our dealings.
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Sam Townend KC explains the Bar Council’s efforts towards ensuring a bright future for the profession
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