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Where Taxpayers and Advisers Meet

Can solicitors charge for merely being trustees?

Anicetry
Posts:33
Joined:Wed Aug 06, 2008 4:00 pm
Can solicitors charge for merely being trustees?

Postby Anicetry » Wed Jan 17, 2018 9:03 pm

I understand that only professional trustees, for example solicitors, are permitted to charge for work done on behalf of the trust. But are they entitled to charge for merely being trustees, even if there is no work that needs doing within a period?

AGoodman
Posts:1752
Joined:Fri May 16, 2014 3:47 pm

Re: Can solicitors charge for merely being trustees?

Postby AGoodman » Thu Jan 18, 2018 11:19 am

Anybody can charge for being a trustee but there has to be specific authority. This is usually included in the a charging provision of the trust deed - in some limited circumstances there is authority under the Trustee Act 2000.

Charging for "being" trustees is included in the above so it is necessary to check the wording of the charging clause. Most modern documents will allow it for anybody acting as trustees as part of their business.


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