Jurisdiction(s):
United Kingdom

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Key definition

Trust corporation definition

What does Trust corporation mean? A trust corporation is a corporate body that acts as trustee of a trust, often used where professional or institutional trusteeship is required, including as a custodian trustee holding legal title while day‑to‑day management is carried out by others. In England and Wales and in Northern Ireland, trust corporation is a statutory term (for example, under the Trustee Act 1925 and related legislation). It includes the public trustee and any corporation either appointed by the court in a particular case to be a trustee or entitled, under rules made under the Public Trustee Act 1906, to act as...

Trust Corporations for Law Firms in England and Wales: Formation, Fiduciary Roles, Liability, SRA Requirements and Practice Points

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Practice notes

What is a Trust corporation

Many law practices operate a trust corporation to perform Fiduciary duties, including appointment as executor, administrator, trustee, attorney or deputy. This corporation is a distinct legal entity capable of holding assets. Trust corporations are widely regarded as the most appropriate vehicle to provide continuity and flexibility, since a corporate trustee does not retire, die or become ill as firm partners ultimately might. This model therefore promotes stable administration across matters and over time, whilst preserving consistent decision-making by a single, enduring officeholder within the firm's entity structure. Resorting to a trust corporation can also trim Costs, because there is less, for example, need to manage the not infrequent appointment and retirement of trustees where they are natural persons. The compliance obligations on trustees are now significant, and deploying a trust corporation can relieve the administrative effort of compliance; for instance, there is no necessity to write to individual trustees to obtain personal Identification. For guidance on trust compliance, see the subtopic: Compliance for trusts. Over the last decade, many additional trust corporations have been created as more law firms have recognised the benefits and established them to deliver their fiduciary offerings. New entrants to the legal market...

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Web page updated on 22/05/2026

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