Trust Administration

The laws pertaining to Trusts emphasize that administration and management of Trust Assets must be done with care and professionalism. It is thus imperative that at least one Independent Trustee be appointed in all Trusts, especially those in which the Trustees are also discretionary beneficiaries of the Trust.

The appointment of an Independent Trustee, or professional Trustee proves beneficial in ensuring that the Trust founder/donor relinquishes ownership and sole control of the Trust Assets in order for the Trustees to accurately represent the intentions of the Trust. Decisions, resolutions and actions of Trustees must be made jointly by all Trustees.

The fiduciary duty of a Trustee is to act with utmost good faith, care and diligence, as such, the appointment as Trustee bears considerable responsibility and by accepting such an appointment, the Trustee acquires joint control and management of the Trust Assets. It is with this in mind that we strongly recommend appointing a professional person to ensure the Trust is properly managed.

Professional Trustees charge fees for the holding such a responsible office. Set out below is a description of the basis on which we charge for professional Trust administration services being rendered by us.