Trust Management Services
Trusts are often the most appropriate way of preserving wealth for future generations, provided they are established and managed correctly. Expert legal, taxation and management advice can help to ensure a trust meets your objectives and minimise the risk of disputes and other issues.
Our trust management services
Our trust lawyers and managers can advise trustees on all management and administration issues.
We take a proactive approach to trust management and administer numerous family trusts, foundations and grant making charities on behalf of our clients.
Working with our clients, we understand the commitment needed to effectively manage a family or charitable trust. Many trusts have been in place for generations and require meticulous administration of detailed records. As a result, our aim is to relieve the burden of time-consuming and complex trust management by offering a fully bespoke service, including direct communication with trustees, beneficiaries, financial and other relevant professional advisers and HMRC.
We have many years of experience in managing trusts with a variety of different asset classes, including traded stock market investment portfolios, residential and commercial property, landed estates, trading companies and works of art. Services to trustees include:
- administering trust assets;
- advising on trustee duties and requirements;
- advising trustees, attending meetings, liaising with professional advisers;
- monitoring investment performance and dealing with investment managers and investment policy statements;
- obtaining legal entity identifiers;
- advising on tax and compliance issues;
- preparing annual or periodic trust accounts;
- day-to-day book keeping;
- making income and capital distributions; and
- winding up trust arrangements.
In addition, the team also offers charity specific advice to grant giving trusts and charities, including:
- organising grant and award payments;
- preparation and submission of annual returns;
- preparation of the trustees’ annual reports;
- drafting of trustees’ policy statements; and
- dealing with gift aid and tax reclaims.
We advise trustees and trust beneficiaries, whether UK resident or non-resident, on completion of their annual income tax and capital gains tax returns and provide clear and practical advice on a range of tax compliance issues. Where appropriate, we work with advisers in other jurisdictions to find the best solution for you in relation to:
- income tax and capital gains tax returns
- registering with HMRC’s trust registration service;
- dealing with the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard issues;
- inheritance tax returns;
- ATED returns;
- residence of trustees;
- non-resident landlord scheme;
- offshore trustee and beneficiary tax issues;
- advising trustees and beneficiaries affected by the French Trust reporting obligations; and
- tax investigations.
To discuss how our trust lawyers can help you, please get in touch.
Why choose BDB Pitmans’ trust management team?
1 Independently recognised specialist expertise
Many of our team are members of the Society of Estate and Trust Practitioners (STEP ), the global professional body, comprising lawyers, accountants, financial advisors and other practitioners that help families plan for their futures. Our team is ranked by Chambers and Partners for Private Wealth Law and by the Legal 500 for Personal Tax, Trusts and Probate, providing independent assurance of our leading expertise.
2 Decades of combined specialist trust management experience
Having advised trustees and trust beneficiaries for many years, as well as regularly acting as professional independent trustees, our trust team can confidently advise on even the most niche and challenging issues.
3 A tailored approach to match your specific requirements
Every situation is different, so it is important to have the exact right type of trust and the appropriate legal and trust management support to match your wealth management goals and the needs of the trust beneficiaries. Our team will work closely with you to fully understand the outcome you want to achieve, then provide personal guidance and management assistance on the steps you need to take.
Our trust management fees
We offer a bespoke trust law advice and trust management service with particular expertise in trusts holding high value and complex assets, as well as trusts for complicated circumstances. As such, all of our fees are individually tailored to our clients’ requirements.
Speak to our trust team about how we can help you
To discuss how our trust team can help you, please get in touch