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?
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
- 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? 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.
- Life / Limited Interest
If you need to add more associations, click Create and add another