Yorkshire legal firm Walker Foster has announced the launch of a new trust corporation, WF Trust Corporation Limited, which was rolled out on the 27th May.
A trust corporation is a company that is authorised to act as a trustee, executor, or administrator of trusts and estates. A professional individual can also be appointed in this capacity, however, this can cause issues if that individual dies, retires, loses capacity or moves overseas.
However, appointing a trust corporation means that an enduring professional has been appointed, which can act as a trustee even if the professional who has been dealing with the estate becomes unable to act on its behalf.
WF Trust Corporation Limited will specifically be used to deliver the firm’s private client services for holding appointments as executors, attorneys for property and financial affairs, trustees, and deputyships for property and financial affairs. By leveraging the extensive legal expertise of Walker Foster Limited, the Trust Corporation aims to deliver personalised and strategic solutions to individuals, families, and businesses.
"We are thrilled to launch WF Trust Corporation Limited as part of our ongoing commitment to providing integrated legal services," said Maxine Heppenstall, managing director. "This new venture allows us to offer our clients a seamless and comprehensive approach to planning for now and into the future.
“By operating through an enduring corporate trustee, we remove the need for replacement appointments and provide continuity that our clients can rely on. WF Trust Corporation Limited is always available to act, with at least one director typically on hand to sign and administer matters efficiently - a practical advantage over individual trustees who may not always be accessible. Our directors include experienced solicitors with extensive knowledge of private client work, trust management, and inheritance tax, offering reassurance that trusts are administered with professional oversight and sound judgment.
“Unlike individual trustees, who may hesitate due to personal liability concerns, WF Trust Corporation Limited acts with institutional strength and a higher duty of care to beneficiaries. Over time, changes in directorship will also introduce new thinking and maintain the level of rigour required for this responsibility. We believe this structure gives our clients greater confidence in the long-term stewardship of their trust arrangements."
