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Insurance Matters for Trustees


When a family Trust has been formed and the Settlor's Assets have been transferred to it the Trustees should take stock. Besides examining their duties they should also look at their new responsibilities as asset owners and ask themselves what additional risk they or the Trust Fund are now exposed to.

The Settlors may not have insured their previously owned Assets against losses.   The Trustees cannot afford to be  so laissez-faire in the execution of their duties,  however.  They should have a proper risk assessment undertaken by a professional who can advise them in these matters, and then take the appropriate steps to ensure against the risk that is pointed out to them.  If this is not done the Trustees will be held liable if loss occurs.

If it is not undertaken at completion of the Trust or when an asset is transferred to it we will point it out to you during your yearly review.

Contact us to discuss your family trust requirements.
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