Depending on the assets held within the trust, the frustees may be required to deal with day-to-day matters arising during the trust period, such as renewal of insurance premiums, arranging the sale of a trust property, dealing with regular income distributions, as well as regularly reviewing the investments held, as part of their role as a trustee.
It is important that trustees keep up to date with these day-to-day tasks as many of them may be time critical and if trustees fail to ensure these issues are dealt with, their lack of action or decision making could be scrutinised by the beneficiaries of the trust.
To ensure that the needs and expectations of beneficiaries are met, we can assist the trustees by carrying out regular reviews of the trust assets and events. This will include diarising any important events to bring to the attention of the trustees, so that matters can be reviewed in a timely fashion and to avoid any delays in dealing with the distribution of assets from the trust.
We can advise the trustees on all tasks which will need to be considered in advance of trust events as and when they arise. We can also take on the administrative burdens of dealing with the management of the assets held, such as arranging insurance renewals, setting up trustee bank accounts, dealing with the sale of investments or acting as a focal point for beneficiary enquiries.
Our team are highly experienced in the day-to-day administration of trusts and manage a variety of trust portfolios. We have access to a wide network of professional and reliable providers who can assist to trustees when dealing with aspects such as insurance renewals or investment advice.