Fulfilling the role of Trustee


Betty’s solicitor knew we had helped clients in similar situations, and with Frank and Mary’s permission, he invited us to join a meeting. During the meeting we answered their questions about their financial responsibilities as trustees and outlined what was involved. As trustees, Frank and Mary needed to be prepared to act in the best interests of all the beneficiaries of the trust by:

  • Dealing with the trust property in accordance with Betty’s Will.
  • Making payments to and passing assets onto the beneficiaries of the trust.
  • Making decisions as to how to invest the trust property and how the trust property should be used.
  • Keeping records to show that the trust is being managed properly.

After the initial meeting, Frank and Mary decided they wanted to work with us further, to help them put the financial aspects of Betty’s Will Trust into action.

The service we provide for trustees includes putting the financial arrangements into place as well as quarterly valuations and an annual review. These regular reviews ensure that assets within the trust continue to be suitable for the benefit of all the beneficiaries, and if this is not the case, changes can made if required. Clients find this aspect of our service very valuable, as it provides the trustees with the all-important record of how the trust is being managed.

With our help, Frank and Mary have a clearer understanding of their duties and what needs to be done to fulfil those responsibilities. Most importantly, they have peace of mind that Betty’s wishes are being fulfilled and Frank and Mary can go back to enjoying a relaxing round of golf with their friends.

Please note that Trusts and some aspects of Inheritance Tax Planning are not regulated by the Financial Conduct Authority (FCA)