Trusts Act 2019: Introduction

The Trusts Act 2019 (Trusts Act) received royal assent (the final stage in becoming an act of parliament) on 30 July 2019 and will take effect on 30 January 2021.

Generally speaking, the Trusts Act will increase the rights of beneficiaries and impose greater obligations on trustees. We expect these changes to make trusts more transparent for beneficiaries which will increase the likelihood that the administration of trusts, and trustees’ decisions or inaction, will be challenged.

We have published A trustee’s guide to the Trusts Act 2019 (Guide). Over the next few months we will post extracts from the Guide to help trustees understand and prepare for the Trusts Act.

If you would like a full copy of the Guide, please get in contact with us.