Companies, Trusts & Not for Profits.
Companies.
How do Companies work?
Whether a company, partnership, sole trader or trust is the right entity for you, is something that you will need to discuss with your accountant. As part of our services we can manage company administration in-house, with an experienced corporate administrator.. Meaning, one less thing for you to worry about!
Our company services include:
Company incorporations
Company directors and shareholders resolutions
Share transfers
Company statutory records
Provision of our office as a registered office of the clients company
Filing of the annual company return with the Companies Office
Company wind-ups
The benefit of having our team take care of this, is that when legislation or rules change, we are able to have a hands-on approach to making sure everything is up to date with your company.
Trusts.
How do trusts work?
Settlors (the people who create the Trust by transferring property into the Trust) transfer assets into the Trust by way of gifting, or through the sale of assets. Trustees (the people responsible for managing the Trust) distribute the assets in the Trust, or income generated by the Trust, to the Beneficiaries (the people who benefit from the Trust relationship).
Significant legal issues are involved in the formation of a Trust and transfer of assets to it. Therefore it is vital to take legal and financial advice from experienced specialists. Our team of Chartered Accountants and Business Advisors have been working with local families for more than 30 years, providing advice on Trust formation along with specialist Trust Review and Professional Trustee services.
We work closely with a number of reputable legal advisors and can provide their contact details should you require further legal advice.
The definitive meaning of a trust is:
A legal relationship in which a person (the Trustee) holds an interest in property (like bank investments).
For the benefit of another person (the Beneficiary).
Or for the benefit of a specified object.
Or for the benefit of a specific purpose.
They are generally set up to protect assets and look after dependent people. They can have a valuable role to play, but they may not be suitable for everyone.
The benefits of having a trust are:
To protect assets from creditors.
To preserve value for future generations.
To protect assets from relationship property or family claims.
To protect assets from the Government.
To maximise any benefits you may be entitled to.
To facilitate the transfer of assets to beneficiaries upon death.
Professional Trustee Service
Trusts involve complex issues which make quality expert advice essential not only during the set up of the Trust but also during its ongoing administration. The role of a Trustee can be extremely daunting for an untrained person. As your Professional Trustee, we will advise on the best way to protect trust assets and minimise income tax. We can also act as an independent party should family conflict arise.
This ensures:
You are aware of your legal responsibilities as a Trustee.
You are aware as a Trustee of asset protection and planning opportunities.
It prevents having to unravel poorly planned or executed decisions.
That a proper trustee meeting happens annually, and to keep that meeting separate from your Annual Accounts meeting.
That you understand the impact of decisions made on beneficiaries’ entitlements.
An appropriate replacement trustee is appointed if you are unable to fulfill your duties for whatever reason.
The benefits of using Whitelaw Weber Trustee Services as a Professional Trustee include:
It maximises asset protection and tax planning opportunities from the outset.
As an independent and unbiased Trustee we will ensure the Trust deed is adhered to.
We will utilise our vast trustee experience to minimise risk.
We can help to resolve potential family conflict.
Peace of mind that your Trust is being administered properly.
Certainty that all statutory requirements under the Trustee Act are being met.
We can anticipate and therefore highlight future risk areas.
When your Trust enters into major transactions we will optimise tax structuring and asset protection from the outset.
As Chartered Accountants, we also provide necessary financial advice.
We will work collaboratively with you and your lawyer.
What is involved in appointing Whitelaw Weber Trustee Services as your trustee?
Before being appointed as your Professional Trustee, we will conduct a Trust Review. This will ensure that your Trust Deed and Memorandum of Wishes are in your Trust’s best interests and that any concerns are addressed. As your Professional Trustee we will provide independent advice, identify risks and ensure you achieve your Trust’s objectives.