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Trust Management



Review Engagements

 

Many not-for-profit organisations, including Charitable Trusts have a requirement in legislation, or their foundation documents, to have their financial statements reviewed by a suitably qualified professional.  

 

A review engagement is a type of assurance that the there is nothing in the financial statements that causes the reviewer to believe they do not fairly present the results of the organisation.

 

At ICL Chartered Accountants we have a team of qualified people to undertake the engagement, but more importantly, to work with you to ensure the process is efficient and provides value to your organisation.



Trust Administration

 

In the past, many Trusts were established and largely forgotten about in terms of their ongoing administration. At ICL Chartered Accountants we have always ensured Trusts we act for are properly administered, and we are pleased to see a recent Law Commission review of this area means there is going to be a lot more focus on ensuring this happens for every Trust in New Zealand.

Our Trust Administration service ensures:

  1. Every Trust is reviewed annually to ensure it is meeting its legal requirements and is still 'fit-for-purpose'
  2. Wills and Memorandum of Wishes have been prepared and are still relevant
  3. Trust Minutes are prepared to record trustee decisions
  4. Financial statements & tax returns are prepared in line with current legislation
  5. Trustees are aware of, and complying with, their obligations to beneficiaries

We also understand that there are trusts that have been formed that no longer meet the objectives that were present when they were set up. We can advise you on the best way to wind these trusts up or to 're-set' them so they continue to meet your objectives into the future.

Whatever your requirements, call the specialists at ICL Chartered Accountants to discuss how your Trust should be managed.



Trustee Services

In the new Trust environment that will come into effect following the recent Law Commission review it is more important than ever to ensure you have the right people to act as trustees in your Trust.

The trustees are the people you have entrusted to manage the trust assets for the people you want to benefit in the future. Finding the right people to perform this role can be a challenge, particularly in an environment of accountability.

At ICL Chartered Accountants we provide a professional and independent trustee service, not only yo ensure your trust is properly managed, but also to ensure the objectives you had when you set up the trust are being achieved.

Call us today to discuss how our trustee service can help you.



Trust Formation

We are often asked by clients whether a Trust is right for them. There is no simple answer to this question as the reasons for forming a trust are many and varied, including:

  • Relationship property protection
  • Creditor protection
  • Effective tax planning
  • Business succession
  • Estate Planning
  • etc. etc.

The experienced team at ICL Chartered Accountants have decades of working with clients and their Trusts and can advise on when setting up a Trust is right for you.

We have a detailed understanding of the various roles within a Trust and can help you get to grips with all these and ensure you have the right people in the right positions.



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