Trustees & Attorneys
Trustee responsibilities imposed by the Trustee Act 2000, creates areas of potential risk and liability that Beechwood Financial Consultants can help to manage.
We are experienced in providing investment advice to trustees. Fulfilling the trustee’s obligation to seek financial advice, we take on the risk of investment selection and management. A programme of regular review and contact with the trustees is maintained to fulfil further trustee obligations.
For a review of the key trustee responsibilities, please register your details to access the information.
When investing for a trust it is important to fully define the objectives of the trust. Investment contracts generate returns at different times and under different tax rules. This is a vitally important area to consider as the taxation rules on trusts are less generous than those for individuals.
To learn more about the taxation of trusts, please register your details to access the information.
Power of Attorney Clients
Managing money to last a lifetime requires care and planning. Beechwood Financial Consultants are experienced in helping clients who are being supported by an Attorney. We provide advice on the funding of long terms fees such as for care. We also help with advice to manage the tax liabilities that are due. To read more about planning for care and the responsibilities of an attorney please register your details to access more information.
- Trustees
The Trustee Act 2000
All Trustees have a duty of care to:
- Invest as if they are absolutely entitled to the asset
- Ensure the suitability of the investment vehicle:
- Consider the tax effectiveness of the investment
- Ensure investments are sufficiently diversified
- Consideration of size and risk profile of trust
- Obtain and consider proper advice
- Conduct a regular review of the trust investment
Failure to fulfil these requirements could make the trustee personally liable for any losses suffered.
By using an independent financial adviser a trustee gains:
- Enhanced holistic consideration of all beneficiary needs
- Access to unique packaged products
- Compliance with your Trustee Act responsibilities
- Efficient risk transference
- Professional advice from a qualified and authorised individual under the FSMA 2000 (N2)
