The violent fluctuations in international stock markets since the outbreak of Coronavirus means that trustees may be vulnerable to claims from beneficiaries or third parties, according to the trust team at international law firm Withers.
The trust team at Withers has highlighted that trustees with assets invested through discretionary fund managers should take a moment to consider how their position might be impacted by recent events, as the standard position for a trustee is that they may be personally liable to the trust's beneficiaries if the trust's funds devalue (subject to any exoneration pro...