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Administering a Trust

Charities are required to take steps to protect and maximise the legacies left to them, and as such, as when they are beneficiaries of a Will, they need certain documents when they are the beneficiaries of a Trust.

This includes the annual trust accounts to enable them to see how the trust assets are being managed and to monitor the value of the Trust for long term financial planning.

During the administration of a trust, charities require the following documentation:

  • a copy of either the Trust Deed or the Will setting out the Trust
  • a copy of the estate accounts.
  • a copy of the annual trust accounts

Where the trust asset is a property, they are usually grateful for confirmation that the property is insured and reasonably maintained. Many charities are able to assist the trustees with this if there are no arrangements in place.

Where there is a trust fund or investment portfolio charities would appreciate receiving a copy of the trustees’ investment policy and an annual copy of the portfolio valuation (these should be provided by the client’s investment advisor).

It is worth noting that many charities have relationships with IFA’s who charge reasonable rates when instructed by the charity and are experienced in investing trust funds  for these charities. Please contact the charitable beneficiary directly to see if this is the case.

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