Annual Trust Management Service

We offer a fixed-fee trust annual management service.

The fees include:

  • Trust accounts setting out movements of income and capital during the year
  • Trust report to beneficiaries
  • Annual review meeting with trustees
  • Annual review of insurance of trust assets (if applicable)
  • Annual review of trustees’ investment policy (if applicable)
  • Arranging an annual valuation of trust assets and, if required, a report on the condition of any trust property
  • Liaising with other professional advisors, including accountants, letting agents and investment managers as required
  • Monitoring key dates and deadlines for the trust during the year
  • Telephone and email advice service for trustees

Third party fees (for example, valuation fees) are not included in the fixed fee. We will obtain your approval of any third party fees before giving instructions.

The trust management fee depends upon the complexity of the trust. In general, the more complicated the trust structure, trust assets or relationships between beneficiaries the more work is required to manage the trust each year. We will always discuss and agree our fees with you at the outset before undertaking work on your behalf.

As a guide, our range of standard annual trust management fees is set out below.

LEVEL 1 single asset trust

Annual fee £550 plus VAT

Our Level 1 annual trust management service is appropriate for trusts consisting of a single asset, such as a property or bank account or a fully managed investment portfolio of £100,000 or less.

LEVEL 2 multiple asset trust

Annual fee £800 – £1,600 plus VAT

The Level 2 annual trust management service is appropriate for trusts with multiple assets, comprising perhaps a mix of property, cash and investments.

LEVEL 3 high value, complex trust

Annual fee based on hourly rate of £230 plus VAT, subject to an agreed cap

For trusts which fall outside Level 1 or Level 2, we offer a bespoke annual trust management service. Typically this service would be appropriate for trusts with multiple properties and investments and/or total assets in excess of £1m.

As the amount of work required for such trusts can vary considerably, we would charge on an hourly basis using our current hourly rate, subject to a cap agreed with you at the outset. In this way, the trustees can budget for the legal costs of the trust up to this agreed maximum figure.


Pay-as-you-go trust advice – legal support for trustees

Hourly rate £230 plus VAT

We are pleased to offer our legal expertise to Trustees on a pay-as-you-go basis. In this way, Trustees can use our services only as and when necessary, saving costs.

We will only charge for the time that we spend working on your behalf, using our standard hourly rate. You can leave it open-ended or you can agree a budget with us in advance for each piece of work that we do for you.


Trust documents

We can provide a full range of trust documents on a fixed-fee basis.

In each case, our fee includes meeting with the trustees to take instructions, advising on the matter in hand, liaising with the trust’s accountants or other third parties as required, preparing a draft document for approval and circulating the final document to the trustees for signature.

Deed of retirement and appointment of trustees

First deed £500 plus VAT, subsequent deeds for the same trust £250 plus VAT

Deed of appointment of capital to a beneficiary

First deed £500 plus VAT, subsequent deeds for the same beneficiary £250 plus VAT

Trustees’ resolution

First resolution £300 plus VAT, subsequent resolutions for the same trust £150 plus VAT

Other documents

If the particular document that you require does not appear above, please contact us for a price.


Creating a new trust

£750 plus VAT

Our fixed fee for drawing up a trust deed for an entirely new trust includes meeting with you to take your instructions and advising you on the most appropriate form of trust for your circumstances. It also includes liaising with your other advisors if required, preparing the trust deed for your signature and attending upon you for signature of the same. The fee excludes work required to transfer assets into the trust. If you require assistance with transferring assets into the trust, we will provide a separate costs figure based on the type and value of the assets and the specific work involved.

 

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