Our Trusts team were appointed as a professional trustee under the Will of a client who wanted to ensure that his adult children were appropriately provided for, but taking into account their differing needs and financial positions.
They wanted to ensure that there was an impartial trustee with the relevant expertise to ensure that the trust could run smoothly and act with another family member who could bring more personal knowledge of the family’s circumstances.
We advised the trustees in their duties, we completed trust accounts for them and chaired the trustees meeting. We provided them with minutes of the meetings and drafted the documentation to make distributions to the beneficiaries.
We also completed the trustee’s tax returns and made sure that all tax was paid within the required deadlines. We liaised with the beneficiaries to ensure they had all the information they require. As the trust assets included a property where one of the beneficiaries lived, we made sure that the trustees had all the relevant checks and insurances to ensure that the property was a good home for the beneficiary.