* not completed

. Which of the following ensures that legal title is not inherited by a trustee's next of kin when the trustee dies?

"Intestacy" correct incorrect

"The trust does not fail for want of a trustee" correct incorrect

"Winner stays on" correct incorrect

'Right of survivorship'. correct incorrect

* not completed

. Which of the following has no power to appoint trustees according to Trustee Act 1925, s. 36?

A person named in the trust deed to carry out the function of appointing trustees. correct incorrect

The beneficiaries. correct incorrect

The existing trustees. correct incorrect

The personal representatives of the last trustee to have died. correct incorrect

* not completed

. Andrew is named in a will trust as the person able to appoint new trustees. The testator originally appointed three trustees. Which of the following may Andrew appoint to act as a trustee?

The testator correct incorrect

A company correct incorrect

A seventeen-year-old beneficiary correct incorrect

Himself correct incorrect

* not completed

. According to Trustee Act 1925 s. 41, when will the court appoint new trustees?

Whenever it is expedient to appoint a new trustee or new trustees, and it is found inexpedient, difficult or impracticable so to do without the assistance of the court. correct incorrect

Whenever it is expedient to appoint a new trustee or new trustees, and it is found inexpedient, difficult and impracticable so to do without the assistance of the court. correct incorrect

Whenever it is found inexpedient, difficult or impracticable so to do without the assistance of the court. correct incorrect

Whenever it is expedient to appoint a new trustee or new trustees, and it is found inexpedient, difficult, expensive or impracticable so to do without the assistance of the court. correct incorrect

* not completed

. Which of the following is most likely to be appointed to act as a trustee of a UK trust?

A beneficiary correct incorrect

A person resident abroad correct incorrect

A foreign national resident in the UK correct incorrect

A beneficiary's spouse correct incorrect

* not completed

. Which of the following is not a duty of a newly appointed trustee?

To search for suspicious activity in the previous administration of the trust. correct incorrect

To examine all previous trustee appointments (and retirements) in the light of the law then applicable to ensure that they have been validly appointed XR. correct incorrect

To ascertain the terms of the trust. correct incorrect

To secure the transfer of legal title to the trust property into the names of the new and continuing trustees. correct incorrect

* not completed

. Which of the following persons has the first right to appoint a new trustee to an existing trust?

Where nominated will trustees die before the testator, their personal representatives. correct incorrect

The court. correct incorrect

Personal representatives of the last trustee to die. correct incorrect

The surviving or continuing trustees. correct incorrect

* not completed

. Which of the following statements accurately summarises the law on trustee retirement?

'A trustee accepts the responsibility for an agreed period'.. correct incorrect

'A trustee accepts the responsibility for life' correct incorrect

'A trustee accepts the responsibility for 21 years subject to renewal'. correct incorrect

'A trustee accepts the responsibility for a reasonable period'. correct incorrect

* not completed

. Which of the following is not a condition of retirement under section 39 of the Trustee Act 1925?

The trustee must retire by deed. correct incorrect

The trustee must obtain the written consent of the other trustees. correct incorrect

The trustee must obtain the consent of any person who is empowered to appoint new trustees. correct incorrect

The retirement will only be valid if two trustees remain or a trust corporation remains after the retirement.
If any one of these conditions is not met the retirement will not be effective to discharge the trustee from their obligations under the trust. correct incorrect

* not completed

. In this chapter we encountered the definition of "overreaching". Which of the following is the correct definition?

This process enables a purchaser of land to take free of the beneficiaries' interests provided he pays two trustees and the trustees include a trust corporation. correct incorrect

This process enables a purchaser of land to take free of the beneficiaries' interests provided he pays all the trustees and the trustees are at least two in number or a trust corporation. correct incorrect

This process enables a purchaser of land to take free of the beneficiaries' interests provided he pays at least two trustees or a trust corporation. correct incorrect

This process enables a purchaser of land to take free of the beneficiaries' interests provided he pays all the trustee or trustees correct incorrect