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Add Associated Parties - Another Trust

When you have Parallel / Mirror Trusts, of if a trust is a beneficiary of another trust, you can create a relationship between them. 

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 Associated Parties

Who is the association with?

Another Trust

The additional trust will be a beneficiary in both cases so add them as per any other beneficiary. Follow the prompts below at add another trust as a beneficiary. 

Contact and Personal details

Name

Email Address

Phone numbers

  • Primary phone
  • Other phone

Address for Communication

  • Street Address
  • Town or City
  • Post Code
  • Country

IRD number

  • Optional
  • but useful if there are taxable distributions from the trust 

Additional Information

Additional notes 

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

Beneficiary Association 

Are they a beneficiary? You cannot add a trust unless you specify the trust as a beneficiary.

Placed a tick in "Record as Beneficiary, Select 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.

Beneficiary Type

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

Once you have finished entering in all the information about the trust, click Create and you will be returned to the main Associated Parties page

If you need to add more associations, click Create and add another

 

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