“Living with a Trust”: from drafting to inheriting, and what it means to inherit via a Trust for you and your clients

“Living with a Trust”: from drafting to inheriting, and what it means to inherit via a Trust for you and your clients

We talk about the use of Trusts as a means of protection for your clients and their families, but how does a Trust ensure that the assets are utilised for the chosen beneficiaries? Are you clear on the possible implications in relation to divorce and long term care if Trustees (and Beneficiaries) disclose Trust assets and information to third parties?

What do Trustees need to do to ensure that the wishes of the Settlor are followed? What do they need to be aware of when considering how best to achieve the aims in the Memorandum of Wishes? Do they know how best to anticipate and manage the needs of the beneficiaries across the lifetime of the Trust, which could be up to 125 years (in England & Wales)?

What can go wrong if Trustees don’t understand their legal obligations?

Having launched a new software process to arrange and hold Trustee Meetings, join us for a “deep dive” into the importance of Trust Management – and understand what can go wrong if Trustees aren’t aware of the duties they are placed under.

Agenda:

The Importance of a Professional Trustee

  • Why your clients need a Professional Trustee – the implications: tax, divorce, care
  • How to appoint Trustees

What’s involved?

  • What the Trust Administration process involves
  • When and why should Trustee meetings be held?
  • What happens at a Trustee meeting
  • Types of Meetings: death of a Settlor, sale and/or purchase of properties, removal of a restriction, RNRB, family conflict, mediation and resolution

The practicalities

  • The process using Countrywide Legacy
  • Related services we offer: probate, property sales & purchases, accountancy
  • Real-life case studies
  • What’s in it for me?

This course is being held remotely on Monday 16th May from 09:30am – 1:00pm.

This article was submitted to be published by CTT Group as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.

CTT Group

http://www.countrywidegroup.co.uk/


CTT Group is an established Legal Services firm providing multi-disciplinary support for the UK’s Professional Adviser community. Their expertise spans multiple areas of Law, Estate Planning, Finance and Tax matters. CTT Group is recognised as a leading figure in the industry due to their wealth of experience and technical knowledge in the legal and financial sectors.

CTT Group is made up of six areas:

CTT Tax and Trust: a premium support system for the Professional Adviser community, providing professional executor and Trustee services. They specialise in Estate Planning, Tax and Trust matters and have a wealth of knowledge and experience in delivering the right solutions for your clients.
CTT Accountancy: A newly established Accountancy firm that will work in partnership with you and your business. CTT Accountancy is a practice of highly skilled and experienced accountants with expertise in trust matters, uniquely positioned to offer your clients a range of accounting services, whatever their needs.
CTT Legal: Providing innovative and modern solutions to even the most complex legal problems. CTT Legal offer comprehensive Legal advice alongside CTT Law; an SRA-regulated law firm and strategic partner of CTT Group.
CTT Private Client: Offering individual professional advice to high-net-worth individuals with various financial situations. Their specialist team have a wealth of knowledge and will work with you to understand your requirements and provide bespoke advice.
CTT Legacy Software: Ground-breaking legal software that will change how you work. Legacy was explicitly designed with you and your business in mind, so it will seamlessly align with your needs. It can also be tailored to suit your business needs, giving you complete control over your client journey.
CTT Professional Services: A specialised knowledge hub designed for the Professional Adviser community and CTT Group members. The Professional Services team will provide you with a bespoke training and support package to suit any business.
Click here for more information: https://ctt-group.co.uk/
Contact: CTT Group Tel: 01926 514 390 Email: [email protected] Address: CTT Group, Gales House 62 Kenilworth road Leamington Spa CV32 6JX

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