As you may already know, there are a raft of changes to the Trusts Act which will effect the way in which trusts operate and are managed from January 2021. The cost of compliance is forcing everyone to review the value of maintaining their trusts, and we encourage you to do so too.

We are now offering a complete trust review service to help clients get a handle on whether it is worthwhile continuing with their trusts and the implications of doing so.

The first question we ask is, "Why did you set up your Family Trust, and does it reflect your current objectives?"

The robustness of Family Trusts is under ongoing scrutiny as a result of the Law Commission review on the law of Trusts.  

Trust Review Service

Our Trust Review service examines the set up of your trust, identifies any administration gaps, and ensures your Trust is compliant with legislation and that Trustees are meeting their obligations. 

We've developed a number of resources to help you to understand this sometimes complex topic.  We provide this service to ensure your existing Trust reflects your current intentions, using the simplest structure possible, and ensure it meets statutory requirements.

It's about maximising benefits you may be entitled to and protecting your assets from relationship property, family and creditor claims, while preserving value for future generations. 

Changes in circumstances and legislation can seriously impact your existing Trust structure.  Call us today for a Trust Review.

Benefits of a Trust Review

Trust Deeds are living documents and it is important to make sure they are regularly reviewed and updated. Changes in circumstances and legislation can impact existing Trust structures.

It's likely that you set up your Trust to meet the following objectives:

  • To protect your assets from creditors

  • To preserve value for future generations

  • To protect your assets from relationship property or family claims

  • To protect your assets from the government

  • To maximise any benefits you may be entitled to

  • To facilitate the transfer of assets to beneficiaries on your death

Our Trust Review service ensures your existing Trust reflects your current intentions using the simplest structure possible and meets statutory requirements.

What is involved?

Initially, we will require a copy of your Trust Deed and associated documents (including Wills) to review. We will then have a meeting with you to discuss what you want your Trust to deliver and make recommendations accordingly. Based on the outcome of the meeting, we will forward instructions to your lawyer for proposed changes, or put forward a more detailed proposal for services if required.

When should I begin using this service?

As soon as possible. All Trustees have a responsibility to safeguard and administer Trust assets properly. Our experience is that many mum and dad Trustees simply don't receive the guidance and support to have certainty that they are doing just that.

Book in a review meeting with Jackie here.