Why a professional Trustee?

 

Why a professional Trustee?

 

Being a Trustee brings with it serious responsibilities which can be onerous for the individual. It is vital for a trustee to be fully aware of the obligations and duties the role requires. Failure to do so can result in unlimited personal liability.

 

Castlewood Trust & Company Limited can provide Trustees, act with you as Co-Trustee or simply advise the Trustees of their obligations. In that role we will:

 

  • Observe the terms of the trust – correct understanding of the trust deed is essential
  • Maintain the trust property – Trustees must control and preserve trust assets properly
  • Exercise reasonable care – the law imposes a statutory duty of care on Trustees
  • Act impartially – A professional Trustee has the benefit of not favouring particular family members
  • Work with Co-Trustees – all Trustee decisions must be unanimous
  • Review and maintain records and make required submissions to HM Revenue & Customs

 

Please contact us for more information about our services.

 

 

 

 

 

 

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Castlewood Trust & Company Limited. Registered in England No 4240495 Registered Office: 9 Devonshire Square, London EC2M 4YF

 

The information contained within this website does not constitute advice, is necessarily limited in scope and statements made are consequently general in effect. Although every effort has been made to ensure the accuracy of the information Castlewood Trust & Company Limited cannot accept responsibility for any loss suffered as a result of persons relying upon it. Clients are advised to consult with us or their own professional adviser.