Edmonds Judd

Redoubt Trust Management Ltd

Trust Management

Any appointment of Redoubt Trustees as a Trustee of your Trust includes a requirement that Redoubt Trust Management Ltd will be responsible for the ongoing management of the Trust. (This is to ensure the proper management of the Trust and the proper involvement of Redoubt Trustees as Trustee). Ongoing management of the Trust is essential and includes:

  • Schedule of Trust assets and liabilities plus details of the Trustees and the beneficiaries
  • Appointing an accountant and solicitor to prepare the Trust’s financial accounts and legal documents
  • Ensuring assets have been transferred to the Trustwith the appropriate documentation
  • Register the Trust with IRD and GST (if applicable)
  • Review of the Trust’s investment strategy (if applicable)
  • Documentation to record Trustee’s meetings, resolutions and annual gifting programme
  • Unless the Trust Deed details otherwise Trustee decisions must be unanimous. All Trustees should be consulted and be in agreement prior to a decision being made
  • Retention of all correspondence, contracts and transactions entered into, opinions and legal advice sought

Te Awamutu Office

DD 07 872 6303

E [email protected]

Sue Stent

Redoubt Trust Manager

Registered Legal Executive Sue, is responsible for management and administration of our trusts. She has a wealth of knowledge as she has more than 20 years experience in the legal industry, Sue is happy to assist all matters regarding your trust.

Service Provided

Redoubt Trust Management Ltd is committed to the good management and administration of Trusts.

The service will incorporate:

  • Maintenance of Trust records
  • Recording Trustee decisions
  • Liaison with solicitors and accountants
  • Annual meetings
  • Review of Trust Investments
  • Gifting
  • Newsletter and regular updates
  • Receiving and reviewing updates and documents for signing.
THE POWERHOUSE

486 Alexandra Street

Te Awamutu

P O Box 35

Te Awamutu

PHONE

07 872 0236

FAX

07 871 7654

EMAIL

[email protected]

DIRECTORS

Simon Brdanovic LLB

Mandy Rasmussen LLB

Chris Grenfell LLB, Grad Dip T

Rachael Beattie LLB

Lucy Sim LLB, B.Soc.Sci

Management Costs

Fees will be incurred for Trust management/administration and a guideline of expected fees are:

Annual Meeting $350.00

Updating Memorandum of Wishes $150.00 -$350.00

Miscellaneous documents received for review and signing Actual time and Attendance

Any documentation relating to the Anti-Money Laundering legislation for investments is on a time and attendance basis due to the varied requirements of different institutions but generally in a range of between $200.00- $300.00.

It is imperative that Trustees fully understand their responsibilities. One of the consequences of not fulfilling those obligations is that a Trustee may be held liable for a “breach of Trust”.

The main duties as outlined by the Courts over time are:

  • Conduct the business of the Trust in the same manner that a prudent business person would manage their own affairs
  • Be familiar with the terms of the Trust Deed, assets and liabilities of the Trust and all Trust documents
  • Retain full records and manage the Trust property efficiently and in the best interests of the beneficiaries

The new Trusts bill which was introduced to Parliament in 2017 will set out mandatory and default

duties. The duties set out in the bill mirror substantially the duties that have been developed by the Courts over time.

The mandatory duties are likely to be:

  1. To be familiar with the terms of the Trust.
  2. To act in accordance with the terms of the Trust.
  3. To act honestly and in good faith.
  4. To act for the benefit of the Beneficiaries or to further the purpose of the Trust.
  5. To exercise stewardship over Trust property for the Beneficiaries or the purpose of the Trust.
  6. To exercise powers for the proper purpose.
  1. Are you as Trustees fulfilling your obligations?
  2. Do you fully understand the content of your Trust Deed and the obligations it imposes on you as a Trustee?
  3. Are you sure all assets owned by the Trust are held in the names of the current Trustees?
  4. Does your Trust have its own bank account?
  5. Are you sure all Trustee decisions have been recorded correctly and reflect the documents executed?
  6. Do all Trustees meet at least annually?
  7. Do the Trustees maintain an up to date minute book?
  8. Is your Memorandum of Wishes up to date and reflective of how you wish your Trust to operate in the event you are no longer able to give your voice?

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