Where the beneficiaries of a trust agree to wind up or alter the terms of the trust, persons who have not been a party to that agreement may potentially have a claim against the trustees in the future for failing to make full provision for their interests.
A trustee may find it difficult to satisfy the requirements of existing beneficiaries of a trust as well as protecting his or her own financial position.
This can sometimes be even more complex and challenging if you have an offshore trust.
A trustee insurance policy will protect the trustee against personal liability to persons whose claims cannot be met from the trust fund once the trust has been wound up or modified.
The insurance policies in this section aim to resolve specific trustee issues.