Administering Your Trust

The law states Trustees must keep proper records of all matters relating to Trusts. In some cases the lack of formality and record keeping in respect of a Trust has resulted in the effectiveness of the Trust being questioned.

In order to ensure that your Trust(s) cannot be challenged, it is necessary for all processes to be properly undertaken and recorded. To this end, and in order to protect you, this firm provides a Trust Administration Service.

What does it do?

The Trust Administration Service ensures that the Trustees maintain the following disciplines:

1. That all Trustee decisions are recorded by way of a minute and purpose and reasoning behind all these decisions in recorded.
2. That Trustees formally approve financial statements, distributions, decisions and investment reviews, and record these by way of an annual minute.
3. That proper accounting records are maintained.
4. That all loans made to and by the Trust are properly recorded.
5. That all assets and liabilities of the Trust are properly recorded.

If your Trust is a non income producing Trust, we would estimate a fee of $500 plus GST per annum excluding our standard gifting charge of $300 plus GST per annum. In the event your Trust currently or in the future, owns assets which produce an income please contact  us in order to obtain a revised fee estimate. The estimate will be in the region of $800 plus GST per annum depending on the number of income producing assets your Trust(s) owns.

The information on this web site is of a general nature only. Readers are advised to establish the applicability of information in relation to specific circumstances and not to rely solely on the information provided here.