Trust Corporation

What is a Trust Corporation?

A Trust Corporation is, a type of financial institution that is authorised to act as a Trustee, Executor, or administrator of Estates and Trusts on behalf of clients. Trust corporations in Scotland are typically authorised and regulated by the Law Society of Scotland or the Scottish Financial Conduct Authority.

When making a Will or setting up a Family Protection Trust, your first thought may be to appoint family or close friends as executors or Trustees.

However, they may not always be the most appropriate people to administer the estate, deal with your financial affairs in the event of you being unable or incapable of doing so and act as a Trustee. Also, the chosen individuals simply may not want to act as a Trustee.

You should consider if they will act impartially and carry out your wishes without having regard to family dynamics. In addition to these considerations, the administration of estates and Trusts can often be complex, with strict duties and responsibilities placed upon Executors and Trustees and compliance requirements. This may be particularly daunting for family or friends to deal with.

To help with this, Jones Whyte works alongside a Trust Corporation. This allows for a professional Trustee of your Family Protection Trust and executor under your will.

Our Trust corporation is completely impartial in its decision-making.

We provide our Trust service for clients of independent financial advisers and other solicitor firms. We regularly advise on the creation of lasting powers of attorney and assist attorneys in their acting. We are experienced in managing the potentially difficult process of obtaining probate quickly and cost-effectively.