Trustee Service
Trustee Service
The duties and responsibilities of being a trustee are considerable. We provide a fully independent and impartial trustee service.
Within our role as the professional trustee we ensure consistency in the day-to-day workings of the trust, balancing the needs of beneficiaries against the directions and wishes of the settlor, as well as helping to resolve any unexpected issues.
The Foreign Account Tax Compliance Act (FATCA) is a complicated UK/US tax agreement that imposed reporting requirements on certain trusts from 1 January 2015. Ward Goodman Trustees Limited is registered to undertake this work and as a named trustee would ensure the compliance and reporting requirements of the agreement are adhered to.
What are the costs?
We charge an annual fee to cover administrative and compliance work, including an annual meeting to review the investment policy, minutes of trustee decisions, accounts and tax return preparation.
- The level of fee charged will depend on the size and complexity of the trust and the trust fund.
- Where we are required to undertake more involved planning and advisory work, our fee will be charged on a time basis and according to the level of skill and responsibility involved.
We can also act as trustee for more complicated Accumulation & Maintenance trusts and special trusts, such as those for disabled persons, and are happy to provide a price on application. We always look to agree fees and costs in writing before proceeding.
Main Advice Areas
- Be a single point of contact for other trustees and the beneficiaries
- Establish independence and help to remove possible conflicts of interest
- Keep informed and up-to-date with current legislation and practice
- Provide realistic and practical solutions
Can also include:
- Preparation of Trust Accounts and completion of Trust Tax Returns
- Trust Administration and Tax Compliance
- Trust Tax Planning
Our Experts
ward goodman onboarding process.
Ward Goodman has a simple but effective onboarding process making this hassle free for you.
STEP 1
Referral from client, introducer or from website
STEP 2
Initial meeting is arranged at one of our offices and this is without cost or obligation
STEP 3
Meeting held to find as much information as possible and quote sent to client, which contains engagement terms.
STEP 4
Client accepts terms and billing and services automatically set up. Client details put on to our software.
STEP 1
Referral from client, introducer or from website
STEP 2
Initial meeting is arranged at one of our offices and this is without cost or obligation
STEP 3
Meeting held to find as much information as possible and quote sent to client, which contains engagement terms.
STEP 4
Client accepts terms and billing and services automatically set up. Client details put on to our software.
Book a Meeting
If you would like to discuss further, please book a meeting with an experienced member of our team. Simply let us know when’s best for you and we will get in touch to arrange a suitable time.
