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    Adding associated parties to a trust

    This Article will guide you through the process of adding associated parties to a trust. All people and entities involved in a trust should be recorded. Record both present and historical associations to maintain accurate records.


    Where to add an associated party

    1. In your firm workspace navigate to the Clients tab then select the name of the trust from your client list to enter into the Trust workspace.

    2. Click on the trust's Parties tab.

    3. Click on "I would like to..." in the top right corner and select from the drop down menu:

    • Add person 
    • Add company/organisation 
    • Add trust


    What type of association is it?

    An Individual

    1. In the Add person form, search for the persons name using the search your contacts function. 

    If the person appears in this search simply select the "add associated party" button from the list and continue completing the subsequent form.

    2. If the person does not appear in the existing client or contact search, select the "Add new instead button" and complete their details on the subsequent form.

     

    A Company or Organisation

    1. In the Add company form, search for the company using the search your contacts function. 

    If the company appears in this search simply select the "add associated party" button from the list and continue completing the subsequent form.

    Note in the image below there are two copies of the same company. If you see duplicates like this, always select the version which displays Nature: Client

    Do not add companies displaying Nature: Contact - instead follow step 2 below.

    2. If the company does not appear when searched for, or is displaying as displaying Nature: Contact, we strongly recommend reviewing our article on setting up corporate trustee companies and importing the company from the Companies Office (regardless of whether your firm is responsible for its management).

     

    Corporate trustee companies are free subscriptions in Connectworks when there is an associated trust loaded, and importing it from the Companies Office will make the directorship, addresses and current shareholding information available for contact, document signing and AML compliance purposes.

     

    After importing the company return to the trust workspace and add them as an association using the search search your contacts option, then proceed with assigning their role/s within the trust.

     

    3. International companies, advisors to the trust, or companies you do not wish to import can have their details manually set up using the "Add new instead" button and completing the details on the subsequent form.

    Another Trust

    1. In the Add trust form, search for the name of the trust using the search your contacts function. If the trust appears in this search simply select the "add associated party" button from the list and continue completing the fields.

    2. If the trust does not appear when searched for, but it is a client of your firm (or likely to become one) we recommend loading the trust into Connectworks first and then using the search your contacts function to correctly link the entities. This is important if you intend to use Connectworks for digital signing or AML compliance.

    3. If you do not wish to load the trust you can manually enter the details by selecting "Add new instead button" and completing the trusts' details on the subsequent form. 


    Assigning Roles and Associations

    If the entity is a trustee:

    1. Within the Roles and associations section, tick the box next to Record as trustee.

    2. Change Date of appointment if required (the date auto-populates as the settlement date).

    3. You can also tick Is the Principal contact for their email address to appear in the Primary Contact section on the main trust workspace.

    If the entity is a beneficiary:

    1. Within the Roles and associations section tick the box next to Record as Beneficiary.

    2. Change Date of appointment if required (the date auto-populates as the settlement date).

    You can also select the type of beneficiary from the drop-down menu.

    Beneficiary Types:

    • Discretionary
    • Primary
    • Secondary
    • Final
    • Life / Limited Interest
    • Remainder
    • Other 

    Settlors, Protectors, Executors & Appointers:

    Select the tick boxes to specify if any of these roles apply.
    Appointers are recorded in two categories: appointers of trustees and appointers of  beneficiaries. Both may be selected if applicable.

    Chairman, Treasurer or Secretary:

    Use the tick boxes to specify positions held in the trust. These roles apply to charitable trusts. Select all that apply.

    Advisory roles:

    Use the tick boxes to specify a professional relationship within the trust, such as the trust's accountant or lawyer.

    Abilities:

    Select if there are any legal issues related to the person's ability to sign or make decisions.



    Assigning Access Rights & Inviting in Associated Parties 

    By default, associated parties will not be able to access the trust until invited in by your firm. Prior to this you can assign their access rights within the trust.

    Access Rights:

    No access - the party cannot access the profile

    Custom access - assign access rights using the tick-box options, listed below.

    • Can view the minutes, documents and other records 
    • Can initiate discussions 
    • Can create minutes and documents 
    • Can manage finances 
    • Can manage relationships 
    • Can edit the profile

    Administrator - unrestricted access to perform all actions within the trust, except generating documents from Connectworks precedents. 


     

    Inviting in Associated Parties

    The trust must first be subscribed to a 2-party or Unlimited subscription plan to enable you to invite people outside your firm to access.

    If you would like to allow associated party access to access the trust workspace you can nominate to invite them to access the trust workspace. 

    See more on inviting in clients here: 

    What Invited Trust Clients Can See & Do

    How to invite Clients into Connectworks


    Create Association 

    Once you have finished entering in all the information about the associated party, click the Create button in the top right corner and you will be returned to the main Parties page.  


     

    Recording Historical Associations (retired trustees & beneficiaries)

    To maintain an accurate record of the trust we recommend recording all historical associations, as well as active ones. Follow the steps outlined above to create the associates profile within the trust, and then see our article on Retiring trustees & beneficiaries to complete the historical record. 

     

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