The Partners have many years of experience acting as professional trustees for family trusts, whether these are lifetime trusts or will trusts. In addition to acting as trustees in a professional capacity, our private client department also advises other trustees on their duties as trustees, including the preparation of the trust accounts, documentation and compliance procedures.
If you are contemplating setting up a lifetime or will trust, then consideration must be given as to who you are going to appoint as the trustees. Obviously, they need to be someone that you can trust and someone who will adhere to the terms of trust for the benefit of the beneficiaries. Whilst non-solicitors can be appointed as trustees, we have found that unless a professional trustee is appointed who has a professional duty to deal with the trusts, other non-solicitor/professional trustees may lose interest, especially if the trust is likely to run for years as in the case of trust for minors.
We can advise you on the following areas:
- Trustee obligations, duties and powers
- Trust deeds including preparation
- Trust management
- Trust assets, sale and purchase
- Trust tax accounts and administration
- Advice on interpretation of trust deeds and will trusts
- Advice on defending legal action against the trust including contested probate claims
If we can be of any assistance, please contact our private client department.
