Professional Trustee Service

We offer a professional trustee service through Lloyds Bank, who have over 110 years of experience, alleviating the stress and burden of dealing with trust administration.

Their experts work closely with us and all concerned to ensure your trust meets the objectives and needs of the beneficiaries.

Eligibility for the Professional Trustee Services is subject to a minimum investment of £100,000. Fees and charges apply.

Why appoint a professional trustee?

Our approach:

  • You can appoint Lloyds Bank plc to act as a trustee in your lifetime or under the terms of your will.
  • They manage different types of trusts under the required UK legislation subject to your domicile.
  • Some trusts may require financial planning and advice before proceeding. They will guide you on the next steps depending on your circumstances.

How can Lloyds Bank help?

  • If you have inherited funds in the past 2 years, you could retain access but save inheritance tax for you and your family.
  • If you are an existing trustee looking to retire from your responsibilities.
  • If you would like to minimise inheritance tax by making gifts but want your loved ones to benefit later.
  • If you seek to provide for additional financial protection and security, education, property in your lifetime or extra protection within your Will.

Benefits of appointing Lloyds Bank plc as professional trustee

  • Dedicated Trust Manager for every trust.
  • Confidentiality and impartiality assured.
  • Experience in all types of trusts.
  • Full trust taxation and administration completed.
  • Schroders Personal Wealth investment expertise where applicable.

Types of Trusts Lloyds Bank can offer

  • Discretionary Lifetime Trusts offer great flexibility and control for a trustee, with opportunities to potentially save on tax. During your lifetime you retain an element of control, guiding your trustee when there’s an opportunity to help someone who you want to benefit from your wealth. This type of trust requires financial planning and advice.

  • If you have benefited under someone’s Will or Estate in the last two years, you may want to take advantage of immediate Inheritance Tax savings by passing the funds directly from the person who has died into a trust, using a Deed of Variation. For example, you could use this type of trust to benefit you, your spouse, civil partner, partner or child in your lifetime and continue to benefit them after your own death. This type of trust requires financial planning and advice.

  • There are different scenarios that may lead to us becoming your trustee. You can appoint us as a new trustee of an existing trust that is managed by others. You may also ask us to become a trustee if a trust is created by a Will and the appointed trustee has died or does not wish to act, or because someone has died without leaving a Will in place. This type of trust does not require Financial Advice.

  • You can make additional trust arrangements that will only come into effect after you die, by including a specific clause in your Will. The flexibility exists to plan for changes in family circumstances, and you can guide your trustee by writing a ‘Letter of Wishes’ (which is kept with your Will). This letter can be amended by you as many times as you wish, but should be reviewed whenever you update your Will. This type of trust does not require Financial Advice.

  • This type of trust is set up to benefit the cause or causes you wish to support – now and into the future. These are subject to potential tax concessions. This type of trust does not require Financial Advice.

Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.

Professional Trustee services are not regulated by the FCA or PRA.

Paul Selway

Trust Manager

“Through regular contact with our clients we build a detailed understanding of their needs and develop a trusted relationship. This enables us to deliver a services as unique as they are.”

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Service eligibility

Eligibility for our Professional Trustee Services is subject to a minimum investment of £100,000. Fees and charges apply. 

Bank of Scotland plc and Lloyds Bank plc are both part of Lloyds Banking Group. More information on Lloyds Banking Group can be found at www.lloydsbankinggroup.com

Bank of Scotland plc
Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland No. SC327000. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 169628.

Lloyds Bank plc 
Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 119278.