Trusts Flashcards
1
Q
What are the responsibilities of the trustees?
A
Consider the standard investment criteria
Suitability of the investment
Diversification
Obtain the advice of a suitably qualified person unless one of them has this expertise
Investments should be reviewed at least annually and varied if appropriate
Money and acres int. He best interest of the beneficiaries
Comply with the trustees act 2000/ trust deed
Keep proper accounts/ submit returns
Consider the beneficiaries’ tax position/ trust tax position
Invest any cash promptly
Have a statuary duty of care when carrying out their duties
Register assets in the trustees name/ hold documents of title.
