Understanding legal trusts can be a complex process. Administration of trusts solicitors can simplify this process for you. Oratto has a number of solicitors who have expertise in this precise legal field.
What is a trust?
A trust is a fund containing assets. These can be property, land or money and are held in trust for the beneficiary, or beneficiaries. Administration of trusts solicitors can help you make sense of the common law obligations conferred, legal rules and tax issues surrounding a trust.
A trust can be established at any point during life, or through a Will after death. Funds can be held for many years – the person who drew up the trust will normally have stipulated the number of years. The trust will need administration for processes such as:
- Managing trust investments
- Accounting for trust assets and income
- Facilitating any payments to beneficiaries
What is trust administration?
Trust administration is the responsibility of the trustees, who will manage the trust and administer the wishes of the person whose assets have been placed into trust.
Administering a trust is a very important role and it’s advisable that you have a professional trustee. Dealing with a trust can be a complex and potentially litigious affair. Oratto member lawyers have been specifically trained to deal with this minefield of an area of law. We can connect you instantly to administration of trusts solicitors who can act immediately and competently on your behalf.
And if you’re worried about costs, don’t be. Most trusts normally make provision for payment of trustees through the trust funds.
So don’t delay – contact Oratto to find out how our member solicitors can help you.