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There are many key aspects of trust administration to ensure the smooth operation of the trust.
Trust administration refers to the management and execution of a trust, according to its terms and the applicable legal requirements. It encompasses the responsibilities and tasks undertaken by the trustees to fulfil their duties and ensure the smooth operation of the trust.
The key aspects of trust administration include:
Solicitors can both act as a trustee through an individual appointment or an appointment of their firm’s Trust Corporation and as a legal representative of lay trustees. When acting as a trustee, the solicitor is responsible for managing all of the above aspects of trust administration. When acting as a legal representative, the solicitor will act in accordance with the scope of the instructions given to them.
Trust administration can be complex and time consuming, particularly for larger or more intricate trusts. Trustees, especially those without professional expertise, may benefit significantly from seeking assistance from legal, financial or tax professionals to ensure proper trust administration and compliance with legal obligations.
Our specialist team are experienced in handling the administration of complex trusts, providing specialised knowledge and experience in trust management.
If you would like to speak to a member of the team, please contact 03333 058375 or email firstname.lastname@example.org.
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