Our partners at Anthony Collins tell us everything you need to know about trustee registration and important changes that are taking place
Firstly, what is a trustee, and what are their benefits?
A trustee is a person who takes responsibility for managing money or assets that have been set aside in a trust for the benefit of someone else. As a trustee, you must use the money or assets in the trust only for the beneficiary’s benefit.
Recently the scope of trusts which must be registered with the Trust Registration Service (TRS) has been widened, meaning all UK express trusts, apart from a small handful of exceptions, must now be registered with TRS by 1 September 2022, or 90 days after their creation if later.
Need to know more about Trust Registration? Anthony Collins Solicitors’ latest article has all the answers for you.
Anthony Collins is a specialist law firm based in Birmingham and Manchester that offers legal services for businesses and individuals.