Philip Vaughan (taken from Isssue No 4 – December 1997)
Introduction
You are not paranoid: everyone really is out to get you.
Legal claims against professions, including professional trustees, are now commonplace. There are several reasons for this:-
trans-Atlantic trends. There is a greater awareness today of legal rights, and a greater willingness to enforce those rights;
economic cycles. A recession breeds litigation;
the increasing complexity of work undertaken. Much more is expected of professionals today than used to be in the past;
changes in the law itself. As we shall see, legal duties and obligations exist today which never used to exist;
the availability of funding for litigation. The abolition of Legal Aid for most civil cases next April, to be replaced with conditional fee arrangements, may well change the position.
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The Trust Quarterly Review is published in partnership with STEP, it discusses matters of interest to trustees and executors with a focus on the particular interests of trust corporations in mind
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