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UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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As a trustee I have bought shares small family Trust

Customer Question

As a trustee I have bought shares for a small family Trust using the trust debit card and current account. Since my name is ***** ***** debit card, the Share Certificates sent to me have my name on them.
Do these shares legally belong to the Trust or to me?
How can I ensure that these shares are the Trusts?
Submitted: 2 years ago.
Category: Law
Expert:  UKSolicitorJA replied 2 years ago.
You are named as the holder of the shares, so you are the legal owner but the Trust is the beneficial owner of the shares and therefore you hold the shares in trust for the Trust.
You may make a declaration of trust in favour of the Trust saying you hold the shares in trust for the Trust, or you may transfer them to the Trust but you will need the consent of the company the shares are of to transfer the shares to the Trust.
Hope this helps