For Trustees, administering a Trust correctly is important, but it's also challenging:

  • Tree2You are required to keep accurate records for legal and accounting purposes
  • You need to prepare and file a tax return for the trust.
  • You needs to regularly check that your actions, and the status of the trust and its investments remain legally compliant
  • In the event that someone challenges the validity of the trust, if they can show that you did not administer the trust correctly, and instead treated it as some 'offshoot' of the Founder's personal finances, then it strengthens their argument considerably.

 

We strongly recommend you employ a professional trust administrator such as Svěřenské fondy a trusty s.r.o. to handle trust administration for your trust. Doing so relieves your trustee of what would otherwise be an annoying administrative burden, protects the Trustee from potential legal liability, protects the validity of your trust, and ensures that proper procedures are followed.

We may be able act as administrator of Trusts even if they were not established by us. If you are interested in exploring this possibility, please send us a copy of your trust documentation.

 

Administration Fees

If you ask us to act as the Administrator of your trust, we can offer you one of three different administration packages

      • Package 1: Trust Administration only:    6,000 CZK per annum
      • Package 2: Comprehensive Administration Package:   12,500 CZK per annum
      • Package 3: Complex Administration Package:  from     15,000 CZK per annum

 

Package 1:  Trust Administration

This includes:

      • Maintaining the trust file
      • Maintaining the Trust minute book
      • Maintaining schedules of settlements and distributions
      • Advice and guidance for trustees as required (up to five hours per year)
      • Preparation of Trustee’s resolutions (up to five per year)
      • Preparation of 'Contracts of Addition' (up to three per year)
      • A quarterly ‘health check’ for the trust. This provides a regular check that your actions, and the status of the trust and its investments remain legally compliant


Package 1 does not include preparation of accounts or tax returns for the trust

Package 2:  Comprehensive Trust Administration

This includes

All the items in Package 1 PLUS accounting and tax.  

Note that Package 2 is designed for the majority of family trusts but is not designed for trusts with larger numbers of assets or higher transaction levels.

Once we understand your trust and its assets, we will be able to tell you if it is eligible for package 2.

 Package 3: Complex Administration Package includes

This includes all the items in Package 1 PLUS accounting and tax charged on a time and complexity basis.

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