SQE Practice Exam 2025 – Complete Preparation Guide

A trustee wishing to retire under the Trustee Act 1925 must obtain consent from at least one other trustee who will continue to administer the trust. This requirement ensures that there is continuity in the management of the trust, as the remaining trustee(s) take over the responsibilities and duties of the retiring trustee. The Act is designed to maintain the smooth operation of trusts, thus the need for a continuing trustee is paramount to uphold the trust's integrity.

The other options do not align with the conditions specified in the Trustee Act. While the agreement of all beneficiaries may facilitate the process, it is not strictly necessary for a trustee’s retirement under the Act. There is also no stipulation in the Act that mandates there to be only one remaining trustee, as trusts can be managed by multiple trustees. Additionally, formal court registration for a retirement is not a requirement under the Trustee Act 1925, distinguishing the process from other legal proceedings that might necessitate court involvement.