No one understand the law better than lawyers, which is why clients have always looked to them to establish trusts and deal with trust issues. Along the way, many lawyers have become responsible for the administration and management of their clients’ trusts as well as acting as independent trustees. Changes to the legislative environment in which trusts operate however, has led some lawyers to question the level of involvement they want to have in their clients’ trusts.
Introduction of the Trusts Act 2019, amendments to the Income Tax Act 2007 and the Tax Administration Act 1994 has on the one hand made law easier to read and on the other, made it easier to hold trustees to account. Hence, greater time than ever before is spent on satisfying ever increasing trustee obligations and trust administration, culminating in a loss of billable time.
We believe in adopting an holistic approach to our work. Hence, we consider it vital to involve a client’s lawyer in the transactions a trust undertake. This frequently leads us to referring work back to a client’s lawyers. It also provides for a checks and balance system against the work we undertake.
We also are proponents of specialisation, advocating we are best placed to employ our 39 years of knowledge and experience in administering trusts and where appropriate, acting as independent trustee.
Our work sees us act for clients throughout New Zealand, undertaking one off specific transactions as well as full trust administration services. We even act as independent trustee in trusts we deem appropriate.
Succinctly, using our services to carry out trust administration work permits lawyers to concentrate solely in employing their experience and skills in meeting their clients’ legal needs. Where we act as independent trustee, our involvement decreases the risk lawyers carry too. These combined benefits assist lawyers in gaining back much needed time as well as sleeping a little easier knowing their clients’ trusts are being administered proficiently.
Lawyers throughout New Zealand refer their clients to us, knowing we have the systems and capabilities to assist their clients. We really are New Zealand’s Trustee of Choice. If you think we could help you and your clients, we invite you to contact us. We’d welcome the opportunity to have a chat.