Trusts

Take the Auckland Legal Free Trust "Check-Up".
Trust "Check-Up"   Select Yes or No
1 Have all Trustees read the Trust Deed in the past year?   Yes No
2 Do all Trustees have a copy of all the trust documentation?   Yes No
3 Do Trustees regularly hold formal annual meetings?   Yes No
4 Are all Trustees actively involved in all trust decisions?   Yes No
5 Do Trustees have a formal written investment policy for the trust?   Yes No
6 Are all Trustees decisions recorded in writing?   Yes No
7 Are financial statements prepared for the trust every year?   Yes No
8 Has gifting been completed within the last year?   Yes No
9 Does the trust have a separate bank account?   Yes No
10 Have all insurances been transferred to the Trustees and acknowledged in writing by the insurer?   Yes No
11 Is your independent trustee a limited liability company?   Yes No
12 Is your will up-to-date?   Yes No
13 Does your will take account of your trust and provide for the power-of-appointment and forgiveness of debts?   Yes No
14 Do you really know how your Trust operates?   Yes No
15 Do you really know how your Trust fits in to your over-all asset / tax / business / succession / relationship property planning?   Yes No
16 Have you completed a Memorandum of Wishes for the guidance of your Trustees?   Yes No
17 Are all Independent Trustees indemnified from personal liability under any mortgages and/or guarantees given by the trust?   Yes No
18 Have all transactions involving the trust been properly documented?   Yes No