Your Professional Trustees
for total peace of mind
WHAT IS A PROFESSIONAL TRUSTEE?
When you create a Trust, you appoint multiple Trustees to ensure it is properly administered in the interests of the beneficiaries. These can be family members or close friends, but often it can be beneficial to have someone completely impartial and emotionally removed from the estate, and with specialist knowledge of tax laws and estate management. WLS Trustees is a company operating purely to fulfil this role for people, making us Professional Trustees.
WHY USE A PROFESSIONAL TRUSTEE?
- They are completely impartial. When property and money are on the table, emotions can run high and families can fall out. The fiduciary duty of a professional trustee is to uphold legal and ethical standards and manage assets in a fair and balanced manner.
- They will assist all other trustees in making sure their legal duties are carried out and will act in the best interests of the beneficiaries.
- A professional trustee is up to date in tax laws and estate management requirements. They will continually look at tax liability as well as general management.
- When a trust involves someone with a disability or special needs that affects their ability to manage finances, a professional trustee will oversee the trusts use, including housing and healthcare costs, and give financial guidance to a friend/carer if a family member is unavailable.
- A professional trustee will be required when the beneficiary is a minor. They will look after the trust and make sure it is managed properly until the child is 18 (or at the age specified by the settlor to manage the trust themselves).
- A professional trustee can replace an existing trustee who no longer wants the responsibility or is no longer up to the task.
WHY CHOOSE WLS TRUSTEES?
- Unlike most other Professional Trustees, we charge NO annual management fee.
- Our team are highly experienced and able to assist with technical queries, saving you or your family the expense of solicitors.