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Trusts remain an important way of protecting assets and looking after the interests of your loved ones. But under the Trusts Act 2019, trustees face strict obligations, and without proper management, trusts can easily come under scrutiny.
New Zealand is already seeing an increase in trust-related disputes. If a trust is not actively managed, it may risk being labelled a “sham trust,” or worse, leave trustees personally liable for breaching their duties. That’s why good governance is just as important as setting up the trust itself.
New Zealand is already seeing an increase in trust-related disputes. If a trust is not actively managed, it may risk being labelled a “sham trust,” or worse, leave trustees personally liable for breaching their duties. That’s why good governance is just as important as setting up the trust itself.
Our Trust Management Programme
To ensure your trust is compliant, protected, and working as it should, we encourage you to join our Trust Management Programme. This programme provides ongoing professional oversight so that your trust is always in order, year after year.
By joining, you’ll have the confidence of knowing that we will:
By joining, you’ll have the confidence of knowing that we will:
- Ensure compliance with AML rules and other legal obligations.
- Host an Annual General Meeting of trustees (or prepare an Annual Resolution if preferred), keeping your trust records up to date.
- Liaise with your accountant to confirm gifting, review and sign financial statements, and provide legal input where needed.
- Provide documentation to banks, mortgage brokers, or other parties as required.
- Offer the ongoing support of a professional trustee company, if needed.
Please note: this programme covers trust management and maintenance, not transactional services.
Unless the above matters are carried out on an annual basis, we believe there is a real and material risk of a future allegation of Trust mismanagement or similar.
Unless the above matters are carried out on an annual basis, we believe there is a real and material risk of a future allegation of Trust mismanagement or similar.
Why it matters
Without regular reviews and record-keeping, there is a very real risk of future claims of mismanagement. Our Trust Management Programme is designed to minimise that risk, giving you peace of mind that your trust is compliant, properly managed, and safeguarded for the future.
Fees
No taxable income
For Trusts which have no taxable income.
$582.35per annum + GST
FEATURES
Adherence to AML rules and compliance for the Trust as it relates to lawyers;
Host an Annual General Meeting of the trustees of the Trust to discuss the Trust's position and formalise any resolutions required (or alternatively to prepare and arrange execution of an Annual Resolution of trustees);
Correspondence with the Trust's accountant to confirm the details of any gifting completed, signing of financial statements, and provide legal statements as applicable for each financial year (so that the Trust's accounts properly reflect the legal transactions completed in the prior financial year);
Provide copies of any Trust documentation to any parties as required (i.e. banks, mortgage brokers, agents etc);
The on-going services of a unique professional trustee company if required;
Taxable income
For Trusts which earn a taxable income.
$782.35per annum + GST
FEATURES
Adherence to AML rules and compliance for the Trust as it relates to lawyers;
Host an Annual General Meeting of the trustees of the Trust to discuss the Trust's position and formalise any resolutions required (or alternatively to prepare and arrange execution of an Annual Resolution of trustees);
Correspondence with the Trust's accountant to confirm the details of any gifting completed, signing of financial statements, and provide legal statements as applicable for each financial year (so that the Trust's accounts properly reflect the legal transactions completed in the prior financial year);
Provide copies of any Trust documentation to any parties as required (i.e. banks, mortgage brokers, agents etc);
The on-going services of a unique professional trustee company if required;
(valid from 01.02.2025)
If you would like McVeagh Fleming to provide these services on an annual basis, please contact us and let us know your preferred month for holding your AGM.
