Managing a Family Trust
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Transcript of Managing a Family Trust
What needs to be done in order to
maintain and keep a trust working as
intended for the benefit of the
beneficiaries?
Letter Of Wishes
The letter of wishes is the document where you specify yourrequests.
It is a non-binding document to guide the trustee on theproper maintenance and distribution of assets.
The letter of wishes is a very personal document
and can name a protector to oversee and monitor
activities on behalf of the beneficiaries.
This document is key to the success of a
family trust.
Updating Wishes
Personal circumstances can require you
to alter the trust and therefore change the
letter of wishes.
Your trustee should encourage you to review thetrust and your letter of wishes regularly in
anticipation of such circumstances.
Depending on the level of activity and the level ofcompliance costs for your trust, you'll require a bespoke
management quotation.
Management Costs
Remember to ask about any fees that will be incurred when youmeet with your solicitor or trustee.
Contact Us+44 (0) 1534753753
Alex Picot Trust
Disclaimer
The document contains general information about our services and does not constitute professional advice. We cannot accept liability for loss or damage suffered as a result of reliance on the information contained
herein.
No member of the Alex Picot Trust Company Ltd is authorised to provide investment advice. You should seekindependent financial and legal advice before processing any financial business in Jersey.
Alex Picot Trust Company Ltd accepts no responsibility or liability for any other document to which you maygain access from this document, or from which you may have gained access to this document and do not
accept any responsibility or liability in connection with any links or websites.
The content of this document, its design and layout is protected and is the property of the Alex Picot TrustCompany Ltd. No permission is granted to copy this material or reproduce it in any form without written
permission.
Alex Picot Trust Company Ltd is regulated by the Jersey Financial Services Commission toconduct trust company business under the Financial Services (Jersey) Law 1998.