Case Study

Independent Trustee to EBT

The entity: UK Employee Benefit Trust (EBT)
Service: Independent trustee

– How we got involved

Referred by a firm of UK based advisers, we were appointed after speaking with the founders of the company and understanding their reason for creating an EBT, as well as their continuing involvement as majority shareholders.

Why us?

We understood the legal construct of the EBT and could work with the founder to support its practical implementation.

We were able to appoint an individual with board experience who could contribute to the company’s strategic discussions and future planning, as well as leading in the trustee role.

Where we got involved

The founder wanted to release some of their investment and recognise the contributions that his staff had made to the success of the business.  We reviewed the draft legal documentation, suggesting amendments to reflect their practical implementation.

They also intended to remain in place as he built a leadership team. As a trustee, we have contributed to the decisions on the future target organisational structure, bringing our knowledge and experience of similar sized companies.

We have chaired the trustee meetings ensuring that a discussion is held, and board decisions are reviewed on behalf of the beneficiaries.

Who do we work with

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The founder

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Legal advisers during the implementation stage

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Fellow trustees

Fees

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Per meeting fee, based on a day rate for preparation, attendance and follow-up – quarterly meetings

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Ad hoc fees for non-meeting activities, larger projects require pre-approval by the client

Fees based on a day rate + VAT, payable monthly in arrears of activity

What else?

We act as a trusted confidant to the founder, providing a neutral, experienced voice as he considers the future for himself and the company.

We have discussed, reviewed and agreed a bonus structure to reflect employee contribution and in keeping with the trust deed.

Let's Work Together