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Services to Trustees

Whether you are contemplating acting as a trustee, have just been appointed as a new trustee or have been acting as a trustee for some time you may find our broad range of trusteeship services helpful

Services to  New Trustees

For those intending to take on the onerous responsibilities of trusteeship  we can advise on the nature and effect of those responsibilities and their risks.

The first task for anyone who is being asked to be a trustee is examine the Trust Accounts and Trust Documentation with a view to ensuring that there has been no breach of trust  or maladministration in the Trust’s history.  Failure to undertake this review or “due diligence” can result in the newly appointed trustee being called to account for not taking all steps appropriate to ensure that the Trust Fund is preserved; if necessary, by claiming against former trustees. 

For the benefit  of intending Trustees we can:

  • advise on the ‘chain of trusteeship’ to ensure that there is no defect;
  • review all trust documentation including appointments and advancements;
  • arrange for investment portfolio to be reviewed;
  • review the recent tax history of the Trust to consider if the Tax reporting requirements have been complied with;
  • consider asset classes and risks inherent in those assets and advise accordingly.

Services to  Current Trustees

  • We can advise Trustees on their powers and responsibilities whether such powers arise expressly (under the terms of the Trust Document), or are imposed or conferred by law.
  • For Trustees wishing to restructure their Trusts, or bring them to an end, we can advise on the tax, legal and other implications of taking such steps .
  • Many of the powers exercisable by Trustees are only exercisable in writing.  We can draft all the necessary documentation to ensure compliance with the requirements imposed by the Trust Document or by law.

For further information please contact our Trusts and Trustees team.

 

 

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Furley Page Solicitors in Kent, London, Canterbury, Chatham & Whitstable
Get in touch on 0845 603 10 57