How to Trace Whereabouts of Trust Funds?

Why trusts can be hard to find

When someone dies, tracking down their assets and legal arrangements is often a slow and frustrating task. Trusts present a particular difficulty because there is no central register that the public can search.

One key reason is that you do not need to formally register most trusts to create one. Many trusts are established through a will or a short standalone document. This makes them straightforward to set up but harder to trace later.

The Trust Registration Service run by HMRC does require certain trusts to be registered. Since September 2022, virtually all UK express trusts must be registered unless specifically exempt, not just those with tax liabilities or those caught by anti money laundering rules. However, this register is not publicly searchable, and many older trusts may never have been added to it.

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Check the will first

The most common place to find trust arrangements is within the deceased person's will. Trusts created this way are called testamentary trusts, and they come into effect on death.

If probate has been granted, the will becomes a public document. You can order a copy through the Probate Registry for a small fee. The online England and Wales Probate Service allows searches for wills and grants of probate dating back to 1858. This may reveal whether any trust was established and who the trustees are.

Some trusts are set up during a person's lifetime rather than through a will. These are known as lifetime trusts or inter vivos trusts. Finding these used to be more difficult, as the original trust deed might be held by a solicitor, bank, or among the person's private papers. However, under current rules, most inter vivos trusts must now be registered with the Trust Registration Service unless specifically exempt.

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Working with the executor

Your ability to search through someone's affairs depends on your role. If you are the executor, you have broad authority to examine bank statements, correspondence with solicitors, and other financial records that might point to a trust.

If you are not the executor but believe a trust exists, it may be helpful to discuss this with whoever is handling the estate. They can then make enquiries on your behalf.

Solicitors who drafted the will or advised on estate planning may hold copies of trust documents. It is worth contacting any law firms the deceased used. The same applies to accountants, financial advisers, or private banks they dealt with.

Other places to look

Trusts sometimes hold specific assets such as property or shares. Land Registry records may show property held by trustees rather than an individual. Company share registers might reveal similar arrangements.

Bank and building society statements can show payments to or from trusts. Insurance policies, particularly life insurance, are sometimes written in trust.

Where you suspect a trust exists but cannot find evidence, a probate researcher or solicitor with experience in estate administration may be able to assist, particularly with high value estates or those involving assets held overseas.

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