Just as your house needs a regular dust off, so does your trust. That’s why our Trust Team has started carrying out trust reviews for all our clients with trusts.
It’s important to do regular housekeeping when managing your trust to ensure it is still fit for purpose and all the benefits remain in place.
Many people are unaware of their obligations as a trustee, and could find themselves in hot water for not doing the right thing. The role of a trustee is a proactive one and the new Act sets out some areas trustees should be focusing on:
- Awareness and management of trust documentation
- Understanding and complying with trustee duties and responsibilities
- Knowing who is a beneficiary and ensuring disclosure obligations are met
- Trust administration
Our online self-assessment tool can help you. It highlights the key areas and talks about what you should be doing in your role of trustee. At the end of the assessment, it generates a report giving you recommendations on how to meet your obligations.
If you haven’t already, you’ll be hearing from one of the team soon. Or, if you’re keen to get straight onto it just get in touch with Steph who heads up our trust team and she will be happy to help. M: 021 595 980 E: steph.gifford@aspiringlaw.co.nz