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Trust Adminstration

There are many key aspects of trust administration to ensure the smooth operation of the trust.

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Trust administration refers to the management and execution of a trust, according to its terms and the applicable legal requirements. It encompasses the responsibilities and tasks undertaken by the trustees to fulfil their duties and ensure the smooth operation of the trust.

What is trust administration?

The key aspects of trust administration include:

  • Asset management: The trustee is responsible for managing the assets held within the trust. This involves safeguarding and protecting the assets, making prudent investment decisions and maximising their value for the benefit of the trust and its beneficiaries.
  • Record keeping: Accurate and detailed record keeping is really crucial in trust administration. The trustee maintains trust accounts of all trust transactions, including income, expenses, distributions and any changes to the trust’s assets or beneficiaries. These records provide transparency, facilitate accounting and demonstrate compliance with legal requirements.
  • Communication with beneficiaries: The trustees often have a tricky balance to maintain between confidentiality and disclosure of information to beneficiaries. Often the settlor of the trust will have given the trustees guidance over what should remain private between them and the trustees and what information can be given to beneficiaries. Additionally, there could be a need for confidentiality between each of the beneficiaries also. The best run trusts will have regular and clear communication channels.
  • Distribution of trust assets: The trustee is responsible for distributing trust assets to the beneficiaries in accordance with the terms of the trust. This involves determining the timing, amount and method of distributions, as specified in the trust document. Where the trust instrument gives the trustees discretion of making distributions, the trustees should ensure fairness and impartiality in distributing assets among multiple beneficiaries, taking into account their respective interests and needs.
  • Compliance with legal obligations: Trust administration involves complying with legal and regulatory requirements. The trustee must adhere to relevant laws, tax obligations, reporting obligations and any other applicable regulations. This includes filing tax returns, maintaining proper accounting records and fulfilling reporting requirements as mandated by the jurisdiction.
  • Fiduciary duties: The trustee has fiduciary duties to act in the best interests of the beneficiaries, exercise prudence, loyalty and impartiality, and avoid conflicts of interest. Trust administration requires the trustee to make decisions that align with the purpose and intentions of the trust, always considering the welfare of the beneficiaries.

Can a solicitor act for trustees?

Solicitors can both act as a trustee through an individual appointment or an appointment of their firm’s Trust Corporation and as a legal representative of lay trustees. When acting as a trustee, the solicitor is responsible for managing all of the above aspects of trust administration. When acting as a legal representative, the solicitor will act in accordance with the scope of the instructions given to them.

Trust administration can be complex and time consuming, particularly for larger or more intricate trusts. Trustees, especially those without professional expertise, may benefit significantly from seeking assistance from legal, financial or tax professionals to ensure proper trust administration and compliance with legal obligations.

Why choose Price Slater Gawne?

Our specialist team are experienced in handling the administration of complex trusts, providing specialised knowledge and experience in trust management. 

If you would like to speak to a member of the team, please contact 03333 058375 or email wealthprotection@psg-law.co.uk

Meet the Team

  • Laura Bywater

    Partner, Head of Wealth Protection

    Laura Bywater

    t:07939 121341

    e: laura.bywater@psg-law.co.uk

  • Gareth Williams

    Partner, Court of Protection & Wealth Protection

    Gareth Williams

    t:07497 839796

    e: gareth.williams@psg-law.co.uk

  • Nina Sperring

    Partner, Wealth Protection

    Nina Sperring

    t:07301 218133

    e: nina.sperring@psg-law.co.uk

  • Gail Galloway

    Senior Associate, Wealth Protection

    Gail Galloway

    t:07399 781788

    e: gail.galloway@psg-law.co.uk

  • Lydia Palmer

    Legal Assistant, Wealth Protection

    Lydia Palmer

    t:07399 565976

    e: lydia.palmer@psg-law.co.uk

  • Marie Fletcher

    Legal Assistant, Wealth Protection

    Marie Fletcher

    t:07399 803662

    e: marie.fletcher@psg-law.co.uk

  • Suzanna Warburton

    Paralegal. Wealth Protection

    Suzanna Warburton

    t:07946 579067

    e: suzanna.warburton@psg-law.co.uk

  • Alexandra Hales

    Paralegal, Court of Protection & Wealth Protection

    Alexandra Hales

    t:07957 958134

    e: alexandra.hales@psg-law.co.uk

What our clients say...

  • “Gail has been very professional, polite and quick to respond throughout the transaction. Would happily recommend.” Mick Jennings


  • “The whole team has been accessible and very well informed.” Legal 500


  • “Top class solicitors, provided a hassle free, professional service… if you’re looking for a firm that really seems to care, charges reasonable fees and doesn’t swallow you up in legal jargon - I’d highly recommend giving them a call.” Anne-Marie Armstrong


  • “I have received a very caring and professional service from both Laura and Gail. All my concerns were answered in a considerate and prompt fashion. Thank you very much.” Justine Abrahams


  • “Gail is my solicitor and has helped me in every stage of my husband’s estate. Because I can no longer write she has simplified things for me and is very approachable whenever I ring, and doesn’t make me feel stupid when I ask stupid questions!” Margaret Borthwick


  • "Very personable and friendly, technically very strong and very ethical and client focused." Legal 500


  • "Gareth Williams, can give advice to HNW individuals with complex planning needs and also acts as a professional deputy for individuals who have been awarded significant personal injury and medical negligence claims, technically very strong and has a great understanding of the needs of the client and how to provide the appropriate solutions and service." Legal 500


Get in Touch

If you would like to speak with one of our expert lawyers, just call or email using the information below, or complete this form.

call03333 058375 mailinfo@psg-law.co.uk

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