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.

 

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