Trust Administration

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Business OwnersOur trust administration service encompasses both the provision of professional trusteeship and support services for the professional and lay trustee. Our support services include:

  • Trust accounting;
  • Income (SA900) and IHT (IHT100) returns;
  • Trustee meeting and minutes;
  • Ancillary documentation (deeds of appointment etc.); and
  • General advice to trustees regarding their role and liability.

Whether you are setting up a trust or acting as a trustee you need to be aware of the regulatory and compliance requirements because the role of a trustee can be a challenging one which rings with it the risk of personal liability. To act without appropriate advice and insurance can be a serious risk issue. Our clients benefit from our many years of experience in dealing with both contentious and non-contentious trust issues.

The investment of trust funds

The Trustee Act 2000 is very clear about the statutory expectations for trustees, particularly in relation to the investment of the trust funds. Trustees must ensure they satisfy the “standard investment criteria” paying due regard to risk profile and the diversification of the assets. We have noted a substantial increase in trust litigation and trustees, particularly professional trustees, need to be very wary of failing to satisfy these requirements. Failing to diversify between asset classes, leaving trust funds purely in cash over prolonged periods and failing to monitor investment performance can all give rise to liability.

We will be happy to work with your independent financial adviser to ensure these requirements are met. If you do not have a financial adviser then we will be happy to put you in touch with one of our trusted professional connections.