Trustee Responsibilities

When a trust is established, trustees are appointed to manage the assets held by the trust. Our expert legal team offers comprehensive guidance to trustees, helping them navigate their duties and responsibilities with confidence, while ensuring that all legal and administrative obligations are met. Whether it’s providing advice on tax compliance, asset management, or resolving potential disputes, we work alongside trustees to facilitate seamless trust administration, protecting both the trustees and beneficiaries throughout the process.

Key Contact: Andrew Hasnip

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How We Can Help

Trustees play a critical role in managing a trust and must adhere to both the trust document and legal obligations. Here’s how we assist trustees and beneficiaries:

Understanding Trustee Duties: Trustees must comply with the terms of the trust and follow key legal responsibilities, including:
- Taking control of trust property
- Acting impartially between beneficiaries
- Taking reasonable care in managing assets
- Keeping accounts and providing information
- Acting unanimously and consulting with beneficiaries
- Investing trust assets responsibly
- Distributing assets as required
- Complying with fiduciary duties
Tax Compliance: Trustees are also responsible for registering the trust with HMRC (if applicable) and ensuring that all tax information is declared and taxes are paid.
Legal Compliance and Peace of Mind: We ensure that trustees comply with their legal responsibilities, preventing breaches and facilitating smooth trust administration. As a trustee, you can have peace of mind knowing that your duties are being handled professionally. Beneficiaries can also trust that the assets within the trust are being managed responsibly.

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Why Choose Us

Our legal team provides comprehensive support for trustees and beneficiaries to ensure the smooth administration of the trust:

Trustee Support: We offer expert advice to trustees, helping them comply with their legal duties and manage the trust in accordance with the trust document.
Beneficiary Support: If you are a beneficiary and believe the trustees are not acting appropriately, we can help address your concerns and ensure the trust is managed properly.
Avoiding Breaches: Trustees who fail to comply with their duties may be in breach, leading to potential removal from their role. We help trustees avoid such issues and ensure compliance.
Experienced Team: We have dealt with numerous trust matters over the years, working with settlors, trustees, and beneficiaries alike. Our team includes STEP-qualified solicitors, and we are proud to be ranked in Tier 2 of the Legal 500.
Tailored Solutions: We take the time to go through trust documents at a pace that suits you, ensuring you fully understand the legal terminology. If contentious issues arise, we can refer your matter to our contentious department for further assistance.