This work covers setting up, running and winding up an agricultural trust or farming arrangement. A solicitor drafts or reviews the trust deed, appoints or retires trustees, and handles administration of trust assets, income and capital, including tax considerations, distributions to beneficiaries, and reporting or accounts. They advise on evolving duties, conflicts of interest, and disputes among trustees or with beneficiaries, and oversee dissolution or restructuring when needed.
What a solicitor handles in these matters
Creating a trust involves drafting the trust deed, choosing trustees, and identifying beneficiaries and property; ongoing administration includes record keeping, tax compliance, and distributing income or assets. When trusts terminate or restructure, solicitors secure proper distributions, finalize accounts, and wind up affairs in accordance with the deed and law, with attention to duties, potential disputes, and regulatory requirements.
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