Why should I use a Professional Trustee?

Why should I use a Professional Trustee?

What is a Trustee?

A Trustee is a person or group of people you have chosen to look after any part of your estate that is put into a Trust. They are the legal owners of the Trust, legally bound to look after the property of the trust in a particular way and for a particular purpose.

Not choosing a Professional Trustee could mean your beneficiaries lose out…

Where Trustees are also named as beneficiaries often leads to disputes.

A professional Trustee is completely unbiased and will uphold the Settlor’s wishes.

A professional Trustee will ensure the beneficiaries’ inheritance is protected.

A professional Trustee will advise on any tax saving strategies available.

The role of a Trustee can be extremely daunting for an untrained person and often decisions will be made which may not be completely in the interest of the beneficiary(s). This may be simply because the Trustees do not have a clear understanding of their role and the impact their decisions may have on the beneficiary’s inheritance

We give consideration to the tax status, financial status and marital situation, of the intended beneficiary (ie if the beneficiary were undergoing financial difficulties or entering into Divorce Proceedings). This ensures that the assets would not be lost to creditors or future ex spouses. Our advice can be crucial in preserving assets and ensuring as much as possible is received by the intended beneficiary(s) and is not lost to tax, divorce or in settlements to creditors

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