Trustee services for Irish trusts

15 May 2024 |

Guide

At its core, establishing a trust provides a robust framework for the protection, management, and distribution of assets and can facilitate seamless succession planning, allowing individuals to dictate the transfer of their assets with precision and efficiency, thereby ensuring the smooth transition of wealth across generations.

In the intricate landscape of wealth management and asset protection, Irish trusts stand as pillars of security and strategic financial planning. Central to the success and integrity of these trusts are the role of independent and professional trustees and the services they provide. Serving as stewards of trust assets, trustees play a pivotal role in ensuring the fulfilment of both the settlor’s wishes and the beneficiaries' interests while adhering to legal and fiduciary obligations.

Hawksford trustee services

Hawksford Ireland is uniquely placed to offer professional and comprehensive trustee services to our clients. Our dedicated and experienced Private Client team consists of lawyers, accountants and tax specialists with the skills, knowledge and experience required in the effective administration and management of our multi-jurisdictional portfolio of trusts.

Benefits of appointing professional trustees

Professional trustees can draw on the expert knowledge of professionally qualified staff and on years of experience in acting as trustee and managing an extensive portfolio of trusts.
The role of a trustee is onerous and time consuming involving significant fiduciary duties and obligations. The appointment of professional trustees will relieve this burden.
The appointment of professional trustees will provide assurance that trustee duties, responsibilities are exercised independently and objectively. It reduces or indeed removes the risk of conflicts of interest arising.
A professional trustee will ensure that regular and structured trustee meetings are scheduled, at which decisions are made and all aspects of the trust are carefully considered and reviewed. This enables timely and appropriate decisions to be made and ensures the effective and proper management of the trust.
In today’s environment, professional trustees are best equipped to keep pace with market changes and amendments in trusts or other relevant legislation.

Our services

Hawksford can act as a professional and independent trustee; we are highly experienced in this matter and can draw on years of experience in acting as trustee.
We can engage with third parties in respect of any matters required to the fulfilling the objects of the trust, e.g. if income generation is a requirement, we can instruct experienced investment advisers with regard to investing part/all of the trust’s assets.
Our dedicated teams have all the required skills and resources in place to deal with the onerous and often burdensome exigencies of administering a trust structure.

How we add value

We are independent. We will always only act according to the terms of the trust.
In setting up a discretionary trust where the appointment of income and/or capital from the trust is subject to the sole discretion of the trustee.
We can attend to the all the administrations required to the formalities of running the trust and arrange trustee meetings.
We have the flexibility to handle out of course requests from beneficiaries of the trust as they arise.

Why Hawksford Ireland?

We are licensed by the Department of Justice and Equality, as a Trust or Company Service Provider (TCSP).
We are a recognised provider of trust services with over forty years’ experience.
Our team consists of lawyers, accountants, tax advisors and chartered secretaries who are committed to developing long-term relationships with clients offering specialist advice, quality client servicing and constant communication.
We have a reputation for efficiency and reliability. Our personal approach means that you can have confidence that your wealth will be protected and nurtured.
We administer client affairs to the highest standards of discretion and prudence.

Clients will seek legal and financial advice from their solicitor and financial planner in relation to the drafting of their will and trust. However, in many cases, these parties are unwilling to act as trustee themselves. As a recognised TCSP Hawksford are experienced and ideally placed to provide a professional trustee service.