Cost of financial advice for money in a trust

Malthusian

kidmugsy wrote: »

How should trustees best get professional advice for trusts of less than £200k?

IFA. Not all IFAs will provide advice for a trust worth £100k to £200k but some will.

Under that level and it gets tricky - transactional advice may be the route to go down if trustees need to take advice to cover off their legal responsibility.

teddysmum

My grandchildren have money which has had to go into trust,after their late grandfather's (dil's father) employers paid out on an insurance.


The funds have to pay for annual reports which neither parent will understand or need and these are duplicates, anyway as all the children have the same amount of money allocated,but there was a slight reduction in the advice fees, based on the same advice covering each child. (This wasn't evenly shared though as the first child paid full and others the reduced rate)

Malthusian

teddysmum wrote: »

(This wasn't evenly shared though as the first child paid full and others the reduced rate)

Sounds unnecessarily complicated, as surely all the accounts were set up at the same time. I can't see a justification for not taking the total fee negotiated and dividing it equally.