We know that although becoming a trustee can be an honour, it can also be quite a big task and can feel like a daunting responsibility.
We are here to help you to understand what it means to be a trustee.
What does being a trustee involve?
Along with the identity of those who may benefit from the trust (the ‘beneficiaries’) and the trust assets, the law expects you to have a knowledge of the powers and duties given to you in the trust itself and under the law. Being a trustee also involves recurring responsibilities, such as filing trust tax returns, holding trustees’ meetings and taking active steps for any trust investments. We recognise that, even with the best will in the world, all of this can be a lot to manage.
Perhaps you’re looking for help with practical tasks such as assistance in completing trust tax returns, or want guidance in your duties as a trustee. Whatever help you need, we are happy to guide you through what you need to do as a trustee. We manage trusts of almost all shapes and sizes and have the experience to deal with whatever problem or question you have.
Support from our Trusts Officer
Our dedicated Trusts Officer can also offer the level of support that you need: whether that’s giving advice on one or two issues, or if you would like us to assume responsibility for running the trust as a whole. As your legal partners, we’d be delighted to walk you through the process of the administration of a family trust.
What we advise on
We can help you with:
- the administration of family trusts
- trustees’ powers and duties
- trust tax regimes
- trust tax returns