managing a family trust
TRANSCRIPT
Chris CotillardDirector, Alex Picot Trust
Managing A Family Trust
What needs to be done in order to
maintain and keep a trust working as
intended for the benefit of the
beneficiaries?
Letter Of Wishes
The letter of wishes is the document where you specify yourrequests.
It is a non-binding document to guide the trustee on theproper maintenance and distribution of assets.
The letter of wishes is a very personal document
and can name a protector to oversee and monitor
activities on behalf of the beneficiaries.
This document is key to the success of a
family trust.
Updating Wishes
Personal circumstances can require you
to alter the trust and therefore change the
letter of wishes.
Your trustee should encourage you to review thetrust and your letter of wishes regularly in
anticipation of such circumstances.
Depending on the level of activity and the level ofcompliance costs for your trust, you'll require a bespoke
management quotation.
Management Costs
Remember to ask about any fees that will be incurred when youmeet with your solicitor or trustee.
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Alex Picot Trust
Disclaimer
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