Trustee Investment Services

The Trustee Act 2000 is the first piece of major legislation to affect trustee investments since the Trustee Investment Act (TIA) 1961.

Whilst many modern day trusts provide trustees with wide investment powers, there are many that do not and these have had to adhere to the restrictive nature of the TIA.

Trustees will be able to invest as if they were absolute beneficial owners of the trust fund. However, to balance this significant power and for protection of the beneficiaries, trustees will be subject to two statutory duties.

Firstly they will be required to ensure the suitability of the investments for the trust and the need for diversity (this also applies to the TIA).

Second, trustees will have a duty to obtain and consider proper advice where appropriate.

This is a good piece of legislation for beneficiaries and Finmor Financial Planning is able to provide trustee investment advice for trusts of most sizes.