Get a unitholders agreement drafted for the way your trust will actually operate

A trust deed and a unitholders agreement do different jobs. The deed usually sets out how the trust operates at a structural level, while a unitholders agreement can record the commercial understanding between the people holding units. That may include transfer restrictions, voting arrangements, distribution expectations, entry and exit rules, or what happens if someone stops participating. Where multiple unitholders are involved, relying on the deed alone can leave important relationship points unstated. A separate agreement can help capture those practical ownership rules more directly.

A unitholders agreement commonly deals with decision-making rights, reserved matters, transfers of units, pre-emption style protections, admission of new unitholders, distribution arrangements, confidentiality and exit provisions. Depending on the trust setup, it may also address how the trustee interacts with unitholders and what approvals are needed before certain actions are taken. Some matters are straightforward, while others depend on whether the unitholders have equal economic interests or different rights. The document is usually most useful when it reflects the actual commercial arrangement rather than generic trust wording.

The answer depends on the trust structure, the number of unitholders involved and the rights they want to have between themselves. We may need details about how income or profits are expected to be distributed, whether any unitholder has special voting or approval rights, and what should happen if someone wants to sell, transfer or exit. Existing trust documents can also matter because the agreement should work alongside them. Those facts shape the drafting in a way that a standard precedent often cannot do well.

A generic template may look workable at first, but it often assumes a simple arrangement that does not line up with the trust you are actually using. Problems can show up around trustee interaction, transfer restrictions, unequal rights, or the way distributions are intended to work in practice. If the trust is holding meaningful assets or involves several participants, those details usually deserve closer attention. A drafted agreement is often the better option where the parties want the document to reflect the real structure and not just broad default clauses.

Timing usually depends on how clear the commercial position already is and whether there are existing trust documents we need to work around. A straightforward matter can move relatively quickly once we have the relevant details and instructions. If there are several unitholders, negotiated rights or unusual transfer and exit terms, the drafting may take longer because those points affect the overall structure of the agreement. After the first draft is prepared, we work through the included amendment round to refine the wording where needed.

Working with us is simple. Start by submitting an enquiry through our website using the form at the top of this page or on our Get Started page. A legal project manager will review your enquiry within 1 business day and reach out to understand your needs.

They'll send you a fixed fee quote outlining costs, scope, and timing. If you're happy, you can accept and sign our engagement letter online. Once that's done, we'll connect you with an expert lawyer who will complete your project via email, phone, or video chat, with the timing confirmed in your quote.

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At Sprintlaw, our pricing is transparent and designed for startups and small businesses. Many one-off legal services, including document drafting and reviews, are provided for a fixed fee with an upfront quote before you proceed.

Prices typically range from £100 to £1,500 depending on the complexity and scope of the work. For ongoing support, Sprintlaw Memberships include options such as legal templates, consultations, a legal helpline and credits for services.

If your project is larger or more complex, we will provide a tailored quote after understanding what you need.

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