No one more than lawyers understands how significantly the landscape has shifted with respect to trusts. Introduction of the newly enacted Trusts Act 2019, amendments made to the Income Tax Act 2007 and establishment of the disclosure rules pursuant to the Tax Administration Act 1994 are prime examples of legislation affecting trusts and trustees.
Whilst legislation can be positive through the certainty and rights it confers, it can also impose increased risk and compliance obligations on parties. Black + White Trust Services Limited is a trust management and administration practice that offers solutions to these expanding compliance obligations and consequential heightened risk trustees now face. We offer trust administration and management services directly to trustees and to lawyers. We can even act as an independent trustee where we deem the appointment appropriate.
We believe in adopting a holistic approach to work. We are also advocates of specialisation. As such we consider we are best placed to employ our knowledge, systems, and processes to undertake only those tasks relating to trust administration and management. At the same time, we think you, as a client’s solicitor, are better to employ your experience and skills in attending to the other legal needs a client has. This permits the client to have the best of both worlds.
Our philosophy enables us to adopt a flexible approach to work. We work with clients directly referred to us by solicitors. Alternatively, we take instructions directly from a solicitor on behalf of their client. Where required we liaise with all parties.
In all circumstances, we aim to use our knowledge and experience to provide services to clients whilst ensuring your relationship as solicitor to the client is protected.
In instances where we identify the need to complete work other than trust administration, we advise the referring solicitor. Frequently, this results in additional work and fees earned by the solicitors we engage with.
Ultimately, concentrating on one type of work permits us to give attention to the tasks at hand without being diverted into other areas. Consequently, solicitors gain comfort from knowing the important administrative matters of their clients’ trusts are taken care of, enabling them to focus on other areas of their practice.
Trust Management + Administration
Trust Management + Administration
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