When making a Will, creating a Trust or making a Power of Attorney application, an important consideration is who to appoint as the Executor, Trustee or Attorney.

Your first thought may to think of friends and family, however, they may not be the most appropriate people to administer your Estate or Trust. More importantly, as these roles can carry a great deal of responsibility and work, for which an individual is not entitled to be paid, they may not want to act.

Are they the right person?

Will they be impartial or independent?

Does their appointment risk disputes or litigation due to family politics?

These are all important questions, especially when they may need to consider who should benefit and when.

The administration of Trusts, Estates and Attorneyships is also becoming increasingly complex, with strict duties and responsibilities imposed on Executors and Trustees, as well as the ever-increasing compliance requirements.

This can understandably be a daunting task for friends or family members.

A popular alternative is to appoint an independent body to fulfil the roles of Trustee and/or Executor in your Will or Trust.

To help with this, Knights has an independent Trust Corporation.

K&S Trust Corporation Ltd is a separate legal entity which can fulfil the role of a Trustee, Executor or Attorney, whatever your circumstances.

By appointing K&S Trust Corporation Ltd as an independent professional Trustee, either alone or jointly with yourself or other members of your family, you can be assured that your Estate or Trust will be administered correctly.

Through K&S Trust Corporation Ltd, experienced specialists can guide you through the processes and deal with:

The tax treatment of Trusts and Estates;
HMRC compliance;
Trustees’ legal duties;
Preparation of Trust Accounts and documents;
Trustee Meetings;
Investment Portfolio review; and
Letters of Wishes.

Pamela has two daughters, Sally and Jane, and wants to appoint them as co-Executors and beneficiaries of her Estate. She is nervous about appointing Sally as an Executor because she does not handle money well, has been declared bankrupt and is heavily influenced by her husband who has a gambling addiction.

Pamela does not want Sally to feel left out and cause tension with her sister after she is gone. Jane is also a City financier and would have little time to devote to the time-consuming process of administering the estate.

In this case, K&S Trust Corporation Ltd could be appointed as Executor of the Estate and work with Sally and Jane as beneficiaries to ensure they are clear on the process, but no assets of the Estate are placed in jeopardy.

In his Will, James left his assets on a life interest Trust for the benefit of his second wife Ursula, who is 30 years his junior. On her death, the remaining capital is to be distributed between James’ children from his first marriage, who do not get along at all with Ursula.

There is clearly scope for tension during the administration of the Trust as the Trustees need to balance meeting Ursula's needs with ensuring a reasonable amount of capital comes to the children.

K&S Trust Corporation Ltd can act as sole Trustee and manage the Trust in accordance with James‘ wishes and in line with all relevant compliance requirements. As a neutral party, the Trust will be managed with a sensitivity to both costs and family relationships to ensure the expectations of all beneficiaries are managed.

Some years ago, when she had capacity, Mrs Bramble appointed K&S Trust Corporation Ltd and her daughter as joint attorneys under the terms of her Property and Financial affairs Lasting Power of Attorney. Now 90 years' old, she has lost capacity to deal with her own affairs.

K&S Trust Corporation Ltd, acting jointly with her daughter, can assist with managing her property and financial affairs and paying her care costs, whilst keeping her needs under review to ensure the best possible quality of life.

K&S Trust Corporation Ltd will act impartially and independently, and will provide advice to the family whilst ensuring that the best interests of the beneficiaries are protected and considered at all times;
It can help manage and avoid difficulties with family members if they disagree with a decision;
As a separate legal entity, K&S Trust Corporation Ltd helps with the continuity of administration of the Estate or Trust should any other Trustees, Executors or Attorney pass away or lose capacity;
Should you lose your ability to make decisions, K&S Trust Corporation Ltd can also act as your Attorney and administer your financial affairs as your sole Attorney, or jointly with a member of your family; and
Appointment can be made post-death to replace Executors and Trustees if tensions should arise that block the effective administration of the Estate or Trust.

The executors and beneficiaries in the course of administering estates can sometimes fall into dispute leading to the executors being removed and new ones being appointed, who are usually solicitors.

That process can either be by consent or following litigation, but a court order is required in any event requiring the consent to act from the replacement executors.

K&S Trust Corporation Ltd in suitable estates accepts such appointments and calling on the experience of our private client and inheritance disputes teams we can then advance the estate administration to a conclusion.

Our Professionals

Our Professionals

Our Professionals

Our Professionals

Appointing a trustee, executor or attorney

When making a Will, creating a Trust or making a Power of Attorney application, an important consideration is who to appoint as the Executor, Trustee or Attorney.