Fiduciary Services

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Business Owners“A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.”

To take on such a role is a significant responsibility and should only be entrusted to an experienced and independent person. As your solicitor we are uniquely placed to take on wider fiduciary roles on your behalf. Provided both parties are happy with the proposed arrangements, there are four different fiduciary roles which we may be able to take up on your behalf. Our fees for each will depend upon the particular matter involved and the principles of our Pricing Philosophy will apply.

Attorney

Powers of Attorney are essential long term planning documents which ensure that your affairs can be dealt with in the event that you lose the capacity to deal with them yourself. We regularly act as an attorney for our clients in relation to their property and finance, safeguard their assets, securing income, paying tax and defending against threats such as Care Fees. We do not take on the role of attorney for health and welfare matters as we do not consider this to be appropriate for a professional adviser.

Deputy

The role of a Deputy is a difficult one and we have many years of experience in dealing with particularly complex deputyship matters. As members of the Public Guardian’s panel of professional deputies we have dealt with the full range of financial proceedings including contentious Court of Protection applications, financial abuse recovery proceedings, Statutory Will applications and estate planning through the Court of Protection. Whilst we regularly act as Deputy for property and finance, we do not take on the role of deputy for health and welfare matters as we do not consider this to be appropriate for a professional adviser.

Executor

An executor is responsible for administering your estate by carrying out the instructions you leave in your Will after you die. Most people over the age of 18 can be an executor of your Will but they need to be financially aware, trustworthy and ideally independent of your chosen beneficiaries. There is no rule against beneficiaries being your executors but you need to bear in mind potential conflicts of interest. Choosing a solicitor as one of your executors can make a lot of sense, especially if sorting out your estate is likely to be complicated or if you need an independent party to assist in decision making. We are highly experienced in the role of executor and, provided the circumstances are appropriate, we will be happy to be named as executors in your Will.

Trustee

A trustee is responsible for administering a trust by ensuring fair treatment of beneficiaries and compliance with the relevant rules (such as the Trustee Act 2000). Most people over the age of 18 can be a trustee of your trusts but, perhaps more so even than an executor, they need to be financially aware, trustworthy and ideally independent of your chosen beneficiaries. There is no rule against beneficiaries being trustees but you need to bear in mind potential conflicts of interest. Choosing a solicitor as one of your trustees can make a lot of sense, especially if the assets or family relationships are complex, or if you need an independent party to assist in decision making. We are highly experienced in the role of trustee and, provided the circumstances are appropriate, we will be happy to be appointed as a trustee.