Outsourcing Trust Administration

Renaissance Trust is experienced at dealing with outsourced Trust administration and can offer a highly competitive service.

The issues faced by accountancy and legal practices – in relation to running a Trust department – are numerous:

Escalating costs of providing the service
Staff recruitment and retention can be problematic
Increasing and changing regulation
Trustee risk

Often the small number of Trust structures involved means that it is virtually impossible for an organisation to administer them efficiently and therefore profitably.

The advantages of outsourcing to an external specialist Trust company include:

Cost efficiency
Maintain control but use “experts” in their particular field
Save recruitment and training costs
Key staff can be deployed in higher revenue generating work
Flexibility – the Trust company con provide all or just part of the process
More opportunity to concentrate on core business
Retain control of the client relationship (we can “white label”)
Remove recurring requirement for expensive software
Significantly reduced risk and PII cost

Trusts for Children

Setting up a Trust for a child is simple and an effective way to provide for their future. A Trust provides a safe haven for funds set aside for the child's benefit and at the same time can be tax efficient.

Asset Protection for Families

Asset Protection Trusts are useful when considering gifts for estate planning where there is concern about the future of the funds.

Disabled and Vulnerable

A Trust can provide financial stability for a disabled or vulnerable person throughout their lifetime, bringing enormous comfort to the person’s parents and wider family.

Asset Protection for Family Companies

Securing the future of a continuing family company can be a concern, particularly where some members of the family are involved with the running of the company but others are not.

Outsourcing Trust Administration

Renaissance Trust is experienced at dealing with outsourced Trust administration and can offer a highly competitive service.

Trustee Services

The team at Renaissance Trust can provide a corporate Trustee or work with you as co-Trustee to help you navigate through the regulation and advise you of your duties.