The hidden cost of some trustees-trustee commissions

There is a widespread variation in trustees’ approachto the taking of commissions for investing trust money and therequirements to disclose these commissions to beneficiaries.The net result is that settlors, beneficiaries and their advisersneed to be aware that a trustee's remuneration may not be clear,even from a set of audited accounts and that there may be arisk of conflict between the trust terms and a duty or regulatoryobligation to disclose.