Trustees have now been given fair warning – meet your legal liabilities and run the trust under your stewardship as you should or risk liability and your trust being deemed a sham.
We've been advising our clients on this for years but the Commissioner has recently come out and said the same thing in black and white in this article. Those responsibilities trustees must meet include completing annual financial statements, resolutions and deeds. Additionally, contact us and we'll talk you through your own trust affairs.
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