Add Associated Parties to a Trust
Once you've logged in to Trustworks, go into the trust you wish to you wish to add a relationship to, click on Associated Parties.
NOTE: If the Trust has already being established, listed will be Trustees, Beneficiaries, Lawyers, Accountants etc.
Click on Add Association
Who is the Association with?
A Company or Organisation
E.G. A law firm or accountant acting as an advisor or A beneficiary organisation e.g. Auckland SPCA
Contact and Personal details
- Primary phone
- Other phone
Address for Communication
- Street Address
- Town or City
- Post Code
- but useful if there are taxable distributions from the trust
e.g. - Could record health issue to do with the person
- If they are a non-resident for tax purposed and where they reside
- Their relationship to settlors or trustees
- Details relating to limited interest beneficiaries
Firm only notes
- These are for your Company and will remain confidential
Roles and Associations
Are they a beneficiary?
If the Answer is No, no further action is required, proceed to Trustee association
If the Answer is Yes, Date of Appointment, Beneficiary Type is required. Entitlement / Suri Juris Date will provide alerts for when the Beneficiary is able to receive distribution from the trust or estate.
- Final and discretionary
- Life / Limited Interest
Trustee Association - Recording person as a Trustee?
If the Answer is No, no further action is required, proceed to Other Associations
If the Answer is Yes, Date of Appointment needs to be entered.
You can also make them the contact trustee which gives them them administration rights to the trust, If so place a tick in "Is the Principal Contact" box.
Other Associations - When creating a new relationship you must associate them with at least one role OR being a trustee and/or beneficiary.
Advisory Roles - To specify a professional relationship within the trust
Access to the Trust
- Has full access rights
- Can view the trust records
- Can partake in discussions
- Can create minutes and documents
- Can manage relationships
- Can edit the trusts profile