If you are a trustee you hold, manage and administer the trust assets. This can include buying and selling assets and making investments, The Trustee Act 2000 sets out a trustee’s obligations when it comes to trust investments.
This is likely to be the most risky responsibility for trustees, especially given the recent financial uncertainties caused by the credit crunch.
Wrong and ill thought through investments can have serious consequences for both trustees and the trust fund.
Hart Brown are unusual as a firm of solicitors in that we have our own in-house FSA (Financial Services Authority) authorised financial planners. As a one stop shop we can provide trustees with a full range of advice and assistance, from general administration of the trust and dealing with its tax returns to strategic financial planning and tax planning advice in relation to its investments.