Private Client
Trusts
 
 

Trust Questionnaire
 

 

< Back to different types of Trusts.

Please complete this questionnaire as fully as possible and tick the appropriate boxes.

SECTION 1 – The Settlor ("the Settlor" is the person who establishes the Trust by providing money or other property to be held upon Trust). Would you please provide the following information relating to the Settlor:
Forenames:
Surname:
Former Surname:
Address:
Postcode:
Telephone No:
Fax No:
Date of Birth:
Occupation:
Country of Residence:
Country of Domicile:
Marital Status:
SECTION 2– The Trust
1. The Trust Property
Please advise what property is to be settled. Quite commonly, this is a small cash sum and assets are subsequently transferred into the Trust. However certain types of property may require special powers in the Trust or might benefit from Tax exemptions or special treatment. If it is intended that at any stage particular assets are to be included which require special treatment please list the nature and value of the proposed assets below:
2. The Trustees
On creation of the Settlement the Trustees become the legal owners of the property. The Settlor can in most circumstances also be one of the Trustees. Generally it is desirable for there to be more than one Trustee but as land cannot be registered in more than four names it is better not to have more than four. Please list below the following information about the proposed Trustees:
Trustee 1
Forenames:
Surname:
Address:
Postcode:
Telephone No:
Fax No:
Date of Birth:
Occupation:
Country of Residence:
Country of Domicile:
Trustee 2
Forenames:
Surname:
Address:
Postcode:
Telephone No:
Fax No:
Date of Birth:
Occupation:

Country of Residence:
Country of Domicile:
Trustee 3
Forenames:
Surname:
Address:
Postcode:
Telephone No:
Fax No:
Date of Birth:
Occupation:

Country of Residence:
Country of Domicile:
Trustee 4
Forenames:
Surname:
Address:
Postcode:
Telephone No:
Fax No:
Date of Birth:
Occupation:

Country of Residence:
Country of Domicile:
3. Appointment and Removal of Trustees
Under the Trustee Act decisions with regard to the appointment and retirement of Trustees are made by the current Trustees for the time being. It is however possible for the Settlor to have the power to appoint additional Trustees during his/her lifetime. Would you like to have this power included in the Trust deed?
Yes No
Would you like the Trustees to act by majority or for all Trustees to be unanimous in making any decision?
Majority Unanimous
Do you envisage there being a requirement to appoint foreign Trustees at some stage?
Yes No
4. Trustees Indemity
It is common for the Trustees to be indemnified for all liability arising in respect of the Trust other than in respect of their own personal negligence. You may feel that such an indemnity is appropriate for lay Trustees but not for professional Trustees and an indemnity can be included for Lay Trustees only should you prefer. You must however bear in mind that it may prove difficult in the future to obtain Trustees if they are not fully indemnified against their actions and this is a point which you should consider carefully. Would you like an indemnity to be included?
Yes No
Would you like this to be extended to Professional Trustees?
Yes No
5. Self Dealing Clause
Occasionally a Trustee may be a Director of a company in which the Trust holds shares and there might be seen to be a conflict of interest. It is common to permit a Trustee who is a Director in such cases to retain his or her Directors salary commission or as the case may be without having to pay the money into the Trust Fund. Would you like a clause permitting self dealing in this way to be included in the Trust Deed?
Yes No
If so would you like to make this conditional on their being an independent Trustee at the time?
Yes No
SECTION 3 – The Beneficiaries
1. Please provide opposite the details of the proposed Beneficiaries. If the Trust is disscretionary then description by class (e.g. the children of the Settlor) will be sufficient. If however the Beneficiaries are to have a right to receive income either now or at a later date would you please provide opposite the full name, address and date of birth of each Beneficiary.
2. In the event of the Trust coming to an end it is important that the capital does not revert to the Settlor as this will negate any Inheritance Tax saving of such a scheme. Please provide the names of the Beneficiaries who you wish to inherit the Trust Fund in the event of their being no other named Beneficiaries entitled. These can be a class of Beneficiaries (e.g. the children of the Settlor or could perhaps be a charity).
3. Do you want the Beneficiaries to receive the capital of the Trust Fund at a specific date or age?
Yes No
4. Do you want the Beneficiaries to be entitled to income immediately?
Yes No
At a certain age?
Yes No
Only at the Trustees discretion?
Yes No
 

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