An absolutely first-rate firm with excellent private client practitioners.

Chambers UK
Private Client and Tax

Advising trustees and beneficiaries lies at the heart of the majority of our estate and tax planning work. Our team is at the forefront of assessing the complex nature of trustee obligations and enabling them to fulfil their role and manage their relationships with both their fellow trustees and the trusts’ beneficiaries.

We support individuals who act as trustees as they face a barrage of obligations, liabilities and regulation which require legal advice regardless of how experienced they are. One of the biggest areas of growth in the legal profession is actions against trustees and it is increasingly vital that a trustee takes advice to reduce the risk of trustee liabilities becoming personal.

The Penningtons Manches Cooper private client team has specific expertise in this specialist area and provides clear, pragmatic advice to minimise a trustee’s exposure to liabilities whether to the trust’s beneficiaries or third parties and on the trustee’s obligations in respect of trust assets.

Similarly, we advise beneficiaries on the nature of the obligations owed to them and the proper treatment of trust assets.

We offer expert advice on:

  • fiduciary duties
  • the nature of trustees’ obligations and responsibilities
  • creation, administration and winding up of trusts
  • tax and reporting requirements
  • asset protection
  • trustees’ investment obligations
  • trustees’ obligations to act impartially amongst the beneficiaries
  • conflicts
  • negotiations with HMRC

Recent work highlights

Cross-border asset tracing

Acting to preserve a substantial estate to trace assets taken from a vulnerable person prior to death and liaising on complex cross-border and insurance issues and multiple claims.

Complex family dispute

Advising executors and trustees in relation to a complex family dispute involving constructive trust claims, inheritance act claims and estoppel.

Vulnerable beneficiaries

Establishing and administering complex trusts for a vulnerable beneficiary.

Related expertise

Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP is a limited liability partnership registered in England and Wales with registered number OC311575 and is authorised and regulated by the Solicitors Regulation Authority under number 419867.

Penningtons Manches Cooper LLP