Part IIAPPOINTMENT AND RETIREMENT OF TRUSTEES
3 provisions
- TOLATA 1996 s. 19 Replacing trustees by beneficiaries Under TOLATA 1996 s. 19, adult beneficiaries with absolute entitlement can direct existing trustees to retire and appoint specified new trustees in writing.
- TOLATA 1996 s. 20 Replacing trustee lacking capacity Under TOLATA 1996 s. 20, adult beneficiaries who own trust property outright may direct a deputy or attorney to replace a trustee who lacks capacity.
- TOLATA 1996 s. 21 Beneficiary direction rules Section 21 of TOLATA 1996 sets rules on beneficiary directions under sections 19 and 20, trustee qualifications under 1925 Acts, and trust opt-outs.