Trustee indemnities: drafting an indemnity on retirement

Resource type: Practice note

Status: Maintained

Jurisdictions: England, Wales

A practice note about issues to consider when drafting an indemnity for trustees who are retiring and taking an indemnity from their successors, including the need for an indemnity, authority to give one, conflicts of interest, specific drafting points and how to avoid problems caused by chains of indemnity.

PLC Private Client

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Resource ID: 6-500-4504
Products: PLC UK Private Client
This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.

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Topics

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Practice note: overview

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Protecting trustees who part with trust assets: overview Protecting trustees who part with trust assets: overview (http://uk.practicallaw.com/topic2-385-8026)

Practice notes

Changing trustees Changing trustees (http://uk.practicallaw.com/topic4-383-6627)
Changing trustees: standard documents Changing trustees: standard documents (http://uk.practicallaw.com/topic8-383-6753)
Changing trustees: trust administration Changing trustees: trust administration (http://uk.practicallaw.com/topic4-383-6632)
Choosing trustees Choosing trustees (http://uk.practicallaw.com/topic8-383-8035)
Contracts: privity and third party rights and obligations Contracts: privity and third party rights and obligations (http://uk.practicallaw.com/topic8-380-8057)
Flee clauses Flee clauses (http://uk.practicallaw.com/topic2-383-8298)
Removing trustees Removing trustees (http://uk.practicallaw.com/topic8-383-9153)
SRA Handbook 2011 and Code of Conduct: issues for private client lawyers SRA Handbook 2011 and Code of Conduct: issues for private client lawyers (http://uk.practicallaw.com/topic3-509-0046)
Tax data for individuals and trustees Tax data for individuals and trustees (http://uk.practicallaw.com/topic9-383-4112)
Transferring trust assets Transferring trust assets (http://uk.practicallaw.com/topic5-383-6245)
Transferring trust assets: trust administration Transferring trust assets: trust administration (http://uk.practicallaw.com/topic7-383-6683)
Trustees' duties of skill and care Trustees' duties of skill and care (http://uk.practicallaw.com/topic7-383-9016)

Standard document

Trustee indemnity on retirement, deed with drafting notes Trustee indemnity on retirement, deed with drafting notes (http://uk.practicallaw.com/topic4-500-4294)

Checklists

Changing trustees: checklist Changing trustees: checklist (http://uk.practicallaw.com/topic8-383-6630)
Changing trustees: which powers to use: flowchart Changing trustees: which powers to use: flowchart (http://uk.practicallaw.com/topic2-383-6628)

Legal update: archive

Ask the team: Are new trustees liable under contracts entered into by former trustees? Ask the team: Are new trustees liable under contracts entered into by former trustees? (http://uk.practicallaw.com/topic3-501-5269)
Legal FAQs: FAQs about indemnities Legal FAQs: FAQs about indemnities (http://uk.practicallaw.com/topic3-503-4692)

Training

PLC Private Client: Changing trustees PLC Private Client: Changing trustees (http://uk.practicallaw.com/topic7-521-7543)

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