Trust Series 2021 - Benchmarking – trustee fees and services - 19 May 2021 (On Demand)

Description

The Trusts Act, which came into full force and effect on 30 January 2021 provides for mandatory and default duties, a statutory limitation of exemption and liability, introduces a presumption regarding the provision of basic trust information to every beneficiary and obligations regarding retention of core documents.

An amendment to the Tax Administration Act has introduced new reporting obligations for complying trusts that have application from the 21/22 financial year.

Inland Revenue has re-issued a Revenue Alert reiterating the Commissioner’s views regarding diverting personal income utilizing, amongst other things, trading trusts.

At the same time, there has been increased litigation involving trustees.

As the role of trustee comes under the spotlight, it is important to consider what the role of trustee entails, appropriate fees from the perspective of the trustee as well as that of trust settlors and beneficiaries.

This webinar will consider the services trustees provide, the fees charged and matters to take into consideration when establishing the scope of trustee services and fees for trustee services. Also considered will be:

  • properly incurred costs
  • rights of indemnity
  • contracting out of trustee liability (how far can a trustee go?)
  • fee structures
  • managing conflicts
  • managing terms of appointment
  • suitable letters of engagement
  • fees for storing core documents, and
  • trustee insurance

ORIGINAL BROADCAST DATE

19 May 2021

LEARNING OUTCOMES

This webinar will advise and inform attendees regarding the range of services offered by trustees and the fees charged.

SUITED TO

Lawyers, accountants, trustees and financial advisers.

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited

 

1.25 CPD Hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $195.00 excl. GST

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One-connection-one-fee

Our webinars operate on a 'one-connection-one-fee' basis so you can have your whole team participate for one cost effective price and claim CPD points.

Recordings

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Sole practitioners

A discount on webinars is available for sole practitioners. Please contact us at NZ‑learning@wolterskluwer.com to confirm eligibility.