Helping a Family Trust Buy Back Share from Charity

The family trust experts at Trethowans helped a family owning 36 properties to buy back a share left to a charity by a deceased trustee for a fair price.

The brief

The X family trust own 36 properties in the local area with different percentage ownerships per owner. One of the owners passed away and left their share to charity. The charity argued that for the family trust to buy their share they needed to pay a percentage value of all the properties.

What our trust dispute solicitors did to help

We advised the trustees on the fact that the percentage value of the properties was not the correct way to value the share of a trust fund, as the value of the trust fund took into account the value of the properties but also liabilities that the trust fund had such as significant repair bills that had not yet been paid and tax liabilities. Our litigation team negotiated on this basis with the solicitor acting for the charities and got the charities to agree a fair price for the sale of their share.

Mihiri has worked on the behalf of individuals with even the most complex trust administration requirements. If you need help with handling trust assetsdon’t hesitate to contact her for assistance on 02380 820544.