Claire works in our Private Client Department where she provides financial and accountancy support. Claire’s main area of involvement is the running of trusts for our clients. Latimer Hink’s Trust Department is one of the largest in the region and is involved not only in setting up trusts but in running trusts and doing so as effectively and efficiently as possible.
“There are lots of legal firms who set up trusts for their clients. However, there are very few firms offering the service of handling the ongoing administration of those trusts.
Trusts can lie dormant for years before they are needed but in many cases trusts are operational from inception. They generate income, incur expenditure and can undertake/carry out a variety of activities. Some of our trusts have been running for decades.
Operational trusts need to be managed and administered and, for example, will be required to submit tax returns. These returns can include various taxes and therefore inheritance tax, capital gains and income tax computations. Trust administration can also include share portfolio management and land or property management including farms and farmlands.
Personal circumstances and reasons for setting up and operating trusts vary enormously. That variety is very much part of my enjoyment of my role.”