Administration of trusts
Most trusts need to be managed. Decisions on investment may need to be taken and distributions to beneficiaries, or adding income to capital, may need to be considered. In many cases it will be necessary to submit a tax return to HM Revenue and Customs each year. Our STEP-qualified lawyers will be able to assist the trustees with this; if they wish, we can take over the general administration of the trust, though the major decisions would still have to be taken by the trustees. We are able to introduce the trustees to financial planners and investment managers to advise on investments and, if required, to take over the management of those investments.
The trust may require the services of a professional trustee. Many of the members of our team regularly act as professional trustees and would be able to assist in this regard.