Trust management

Trusts are an effective way to protect assets for family, future generations, friends and charities.

Based on our extensive experience of dealing with trusts, we have devised three fixed fee services which will appeal to the majority of trustees, called Bronze, Silver and Gold services.   Our Platinum service is a bespoke trustee services package for complex trusts.

 

If trusts are set up correctly and administered in line with HMRC requirements they can provide a tax planning tool that spans generations.

Furley Page has specialists who can help set up trusts. We have trust administrators who work exclusively with appointed trustees, advising them of their legal obligations to ensure the trust is compliant and operating efficiently.

How we can help with the administration of a trust

Our range of trust management services include:

  • Reviewing trust documentation to compile a complete summary of the trust
  • Opening a designated trust bank account
  • Preparing and submitting documents to the HMRC to register the trust for income and capital gains tax purposes
  • Establishing the objectives of the trustees and drafting an investment policy
  • Instructing a financial adviser and requesting annual reviews
  • Facilitating and chairing meetings of the trustees in compliance with the Trustee Act 2000 and acting as secretary during these meetings
  • Preparing minutes of the meetings and circulating them to the trustees for approval
  • Day-to-day administration eg reading company circulars in respect of corporate activity and taking any necessary action while managing payments in and out of the trust
  • Drafting annual trust accounts and circulating these to trustees for approval
  • Drafting key trust deeds and documents such as appointments of capital and income, resolutions, loan agreements and deeds of appointment and retirement of trustees
  • Implementation of agreed capital and income distributions, and supplying standard information to the beneficiaries
  • Completion of tax returns for the trustees and circulating these for approval
  • Production of trustee tax deduction certificates

Fixed fee and bespoke trust management services

Based on our extensive experience of dealing with trusts, we have devised three fixed fee services which will appeal to the majority of trustees.

We also offer a bespoke trustee services package for complex trusts.

Bronze Service

Our Bronze Service is suitable for those trusts that hold a single asset. This might be an interest in a property, liquid funds in a bank account or fully managed investment portfolio of under £100,000.

We will:

  • Hold the key trust documents in our strong room.
  • Add the details of the trust to our confidential database.
  • Maintain a register of key dates that impact the trust and notify you as required.
  • If you elect to do so, you will also receive our private client newsletter and email updates of legal developments that impact trusts.

Silver Service

Our Silver Service is suited to those trusts controlled by lay trustees who need efficient advice as and when the need arises. These trusts will have multiple assets consisting of property, cash and investments up to £1,000,000 in value.

We will offer all the features of our Bronze Service plus:

  • Assign you a specialist trust adviser as a personal contact.
  • Five hours of legal advice from our range of trustee services.
  • 10% discount off our standard hourly charges (if the five hours are exceeded).

Gold Service

Our Gold Service is suited to those trusts that require active management. The trust will have high value assets and investments up to £2,000,000 in value.

We will offer all the features of our Bronze Service plus:

  • Assign you a specialist trust adviser as a personal contact.
  • 10 hours of legal advice from our range of trustee services.
  • 20% discount off our standard hourly charges (if the 10 hours are exceeded).

Platinum Service

Our Platinum Service is a bespoke service suited to complex trusts often involving overseas assets, business assets and high value investment and property portfolios

We will:

  • Agree a suitable capped annual fee or work on a time spent basis.
  • Provide flexible meeting times to include evenings and weekends and at a location of your choice.

Trust management by Furley Page

Our expert lawyers and legal team has extensive experience providing services for trustees and the management of trusts.

Contact Harvey Barrett or David Fielding to find out how we can help you.

How can we help you?

How can we help you?