Book Description

The office of the Public Trustee was established by the Public Trustee Act 1906 to oversee matters of estates or settlements where appointed to act as executor by individuals, where existing trustees are unable or no longer willing to act or when asked by the High Court. This Bill seeks to amend the 1906 Act regarding the liability and fees of the Public Trustee. It removes the requirement for full cost recovery and permits the Lord Chancellor flexibility in setting the level of the fees; and clarifies the extent of the liability for breach of trust, and makes the Lord Chancellor's Department, rather than the Consolidated Fund, liable to make good sums required to discharge it.