Trustee, Discretionary Trust, Settlors duties, Beneficiaries , Trustee Act

The world of Trusts is about to undergo a major change. I will be reviewing the Act both prior and following the introduction of the new Trustee Act.

I have been involved in the establishment of Trusts for 30 plus years, and I can truly and honestly say they can be worth more than their weight in gold and a good nights sleep when established and managed properly and the complete opposite if not established and administered properly.
I am prone to saying that a Trust is not like a will in any way at all.
A will you sign and wait to die !
A trust you sign and then start managing it.
It is not a passive instrument as many people have mistakenly thought.
A Trust is like a dog of which I have some experience. If neglected, problems will ensue. If well managed a good and faithful friend. A good Trust needs to be reviewed often and the assets managed and thought about and a record kept of the decisions made and why.

That is why I will be offering my services to help establish the Trust, for the appropriate considered and recorded reasons, offer Trusteeship which I promote should be a Corporate Trustee, and most importantly the daily monthly or annual management of the Trusts assets. Minutes must be kept decisions must be recorded with justification and of course now Beneficiaries need to be "informed".

It is a new ball game as the saying goes.
Existing Trusts that have run their course should be looked at and wound up or resettled. Now is the time. Be reassured Trusts have a place in more lives than they do presently. Consider what we now have to deal with, Worksafe, Matrimonial property law, Commercial Litigation, employment law, changing tax laws, public liability, there are many good sound reasons. Trusts are not a rich persons privilege, but they well may prevent you from becoming a much poorer person !

I am pretty approachable and my focus is on helping people with financial issues, and considering what options are available to people with solvency problems confronting them. Waiting for the knock on the door is not being proactive.
Contact me by txt : 021 476583
Contact me by email: sdr@isolve.co.nz
 I will invite you to use SYLO (Look it up online) as a means of confidential communication.