Zetland’s approach to trust administration may be summed up in just two words: devotion and objectivity.

Devotion since we zealously view trust assets as if they were our own funds.

Objectivity since we always attempt to take decisions based on a detached analysis of the situation.

Zetland believes that the following are important aspects of trust administration which we endeavour to undertake in all cases:

Prior to set up of the trust it is important to conduct due diligence on the parties and assets which will form the settlement. For example in order to avoid exposure to money laundering legislation the source of funds should be determined. If pre-existing companies form part of the settlement, accounts should be examined and in the case of real property an inspection may be desirable. If chattels are involved then they must be properly inventoried and labelled.

Operational matters such as the location and nature of bank accounts, the identities of investment advisers and fund managers and the objectives given to them shall be discussed and agreed with the settlor prior to establishment of the trust. Monitoring of all trust assets shall take place on a continuous and timely fashion.

Accounting for trust assets should be done on a regular basis with close attention being paid to investment performance. Basic accounting must be up to date, accurate and properly reviewed and supervised.
Decision taking should be based on a consensus of views with no one individual able to dominate matters. At Zetland we have an experienced staff including qualified lawyers and accountants and we always seek to discuss issues fully and if necessary obtain appropriate outside help or advice.

Adherence to the provisions of the trust deed is always paramount and other documents such as a settlor’s Letter of Wishes are consulted. Key decisions taken in the administration of the trust are documented and filed.