Certificate in Trust Administration

Introduction

The effective administration of trusts requires more than an understanding of the legal principles that underpin them. Trustees and their advisers must navigate a wide range of practical issues, from exercising trustee powers and managing investments to dealing with beneficiaries and ensuring compliance with modern regulatory requirements.

This new full day course is designed for private client practitioners and professional trustees who are involved in the day-to-day administration of trusts and who want to develop greater confidence in advising trustees and managing trusts effectively.

It will explore the role and responsibilities of trustees and examine the practical administration of the most common types of trust encountered in practice, including bare trusts, life interest trusts and discretionary trusts. It will consider how trustees should exercise their powers, document their decisions and manage their ongoing obligations throughout the life of a trust.

The course will also highlight the key taxation principles relevant to trustees and the regulatory and compliance requirements that now form part of trust administration.

It is suitable for solicitors, legal executives and private client professionals who advise trustees or assist with the administration of existing trusts and who want to strengthen their understanding of the practical and legal issues that arise in trust management.

What You Will Learn

This course will cover the following:

• How trustees can exercise their powers properly and make defensible decisions
• How to deal with the appointment, retirement and removal of trustees in practice
• The key features and administration of bare trusts, life interest trusts and discretionary trusts
• How trustees should document decisions and maintain appropriate records
• The practical tax framework relevant to trust administration
• How trustees should communicate with beneficiaries and manage expectations
• The duties of trustees when managing trust investments and obtaining professional advice
• Registration and compliance requirements, including the Trust Registration Service
• Common pitfalls in trust administration and how advisers can help trustees avoid them