Investment by Trustees of a Will Trust

margib

For 10 years we have been placing the funds in the Trust with Building Societies. Now, one by one, they will not take new deposits by Trustees. Where can we put the money to get a reasonable return for the beneficiary who needs the income for care home fees?

xylophone

http://www.nsandi.com/contact-us-helpful-information-faqs-can-i-invest-trust

Have you tried NS&I?

barak

margib wrote: »

For 10 years we have been placing the funds in the Trust with Building Societies. Now, one by one, they will not take new deposits by Trustees. Where can we put the money to get a reasonable return for the beneficiary who needs the income for care home fees?

I'm not clear what you mean by "new deposits"? Are they refusing to accept deposits on existing accounts?

If all the Trust's resources have been in Building Society deposit accounts that probably wasn't a good idea. Over the last 10 years it would have been essential [I would say] to have at least some of the Trust's cash invested, for example, in Equity Income and Corporate Bond Funds, which is what I have done.

Your_Hero

margib wrote: »

For 10 years we have been placing the funds in the Trust with Building Societies. Now, one by one, they will not take new deposits by Trustees. Where can we put the money to get a reasonable return for the beneficiary who needs the income for care home fees?

You need to be investing the money prudently as trustees as you have a fiduciary duty by law. http://www.step.org/doing-your-duty

By keeping it on deposit for the last 10 years, it could actually be argued that you've not been looking after the money properly. Depending on the amount involved, you should seek proper advice from a qualified independent financial adviser.