Becoming a trustee can be an honour. However, you may also feel daunted by the requirements and unsure about your responsibilities. Our experienced trusts team is here to help you understand what it means to be a trustee, with practical support and legal advice on all aspects of trust administration.
With a dedicated Trusts Officer, we offer assistance at the level you need, including:
- general guidance on the role
- answering ad hoc questions about specific issues
- providing a comprehensive trust management service
What does being a trustee involve?
As a trustee, you have a number of legal obligations, with a ‘fiduciary’ duty of care to abide by specific instructions contained in the trust deed and general duties of care, honesty and integrity that have been placed on you.
This means you’re expected to know the terms of the trust, who may benefit from this (the 'beneficiaries') and what your powers and duties involve. There are also several recurring practical responsibilities, such as filing trust tax returns, holding trustees' meetings and taking active steps for any trust investments.
This can be a lot to manage, even with the best will in the world.
Our trusts administration team can steer you through your responsibilities. Having managed trusts of all shapes and sizes, we have the experience to deal with whatever problem or question you have.
Comprehensive trust management services
We understand that every trust is unique. Our dedicated Trusts Officer provides tailored support to meet your needs, whether you need occasional guidance or would like us to assume responsibility for running the trust as a whole.
This includes:
- The administration of family trusts
We guide you through every aspect of day-to-day trust management to ensure you meet your legal obligations, including setting up proper record keeping systems, distributing funds to beneficiaries and preparing deeds and trustee resolutions.
- Trustees' powers and duties
We explain your fiduciary duties and advise on decision-making processes to protect both you and the beneficiaries.
- Trust tax regimes
We help you understand which tax rules apply to your specific trust structure and ensure you're taking advantage of all available reliefs and exemptions.
- Trust tax returns
We ensure HMRC reporting requirements are met, assisting with the preparation and filing of trust tax returns.
Our Trusts Officer is an affiliate member of the Society of Trusts and Estates Practitioners (STEP), keeping at the forefront of best practice. We build long-standing relationships with our clients, providing clear advice on the complexities of managing a trust to make this as straightforward as possible.
Find out more
Our trusts administration team is here to help you fulfil your duties as a trustee with confidence, with legal guidance and practical support.
Contact us today to get support with administering a trust.