Part 4Trustees’ powers and indemnities
Trustees’ indemnities
85Ranking of trust property
For the purposes of section 81(1) (and despite section 81(2)), the terms of the trust may rank the order in which the trust property must be applied to reimburse the trustee or pay or discharge an expense or a liability.
However, the court may set aside the ranking of trust property on the application of—
- the trustee; or
- a creditor; or
- a beneficiary.