Covisory Trust brings together two New Zealand trust experts Nigel Smith and Marcus Diprose. Collectively they have a wealth of experience providing independent trust advice and trustee services both domestically and offshore. Covisory Trust offers Independent Trustee Services, Trust Formation, Insurance Trust Services, Formation of NZ Limited Partnerships and Look Through Companies and Independent Trust Advice.
In our opinion current case law and proposed changes to New Zealand Trust law will put increasing pressure on trustee’s to do their job correctly and conversely be exposed to more risk. The Covisory team specialise in this area and we are well equipped to deal with your specific needs.
Our services will include:
- Independent Trustee Services
a. We will provide independent trustees services to a wide range of New Zealand domestic and foreign trusts.
(i) Full administration services to ensure the decisions of the trustees, and other parties to the trust, are:
* Properly documented;
* Record keeping is up-to-date;
* Accurate and timely reporting is maintained and communicated to all parties to the trust.
b. Act as a Court Appointed Trustee.
c. Have an independent Trustee Company for New Zealand Domestic Trusts (Covisory Trust Limited) and for New Zealand Foreign Trusts (Covisory (NZ) Trust Limited) which can act as a trustee of a Trust.
2. Trust Formation
a. We provide full formation services for New Zealand trusts. Includes:
(i) Initial client meetings;
(ii) Drafting of all trust documentation based on the instruction of the client;
3. Insurance Trust Services
Private businesses should always have some form of insurance coverage to help facilitate the sale and purchase of shares upon the death or permanent disability of a director/shareholder.
(i) We work with insurance brokers to set up buy/sell agreements and provide trustee services to deploy the insurance proceeds as per the provisions of the trust deed.
- Formation of New Zealand Limited Partnerships (NZLP) and Look Through Companies (LTC)
a. We provide full formation and administration services for both NZLP and LTCs including acting as a New Zealand resident General Partner or Director.
5. Independent Advice
a. Full Review of Trust Structures due to changes to family dynamics or law changes.
(i) Including advice and recommendations on what steps to take on a go forward basis.
Recent projects the CTSL team have been involved in include:
- Advice and formation of a New Zealand foreign trust structure to hold intellectual property;
- Family restructuring; including the consolidation of a number of existing trusts, resettlement of assets, additions of beneficiaries and associated advice;
- Advice to a New Zealand private charitable trust as to how distributions can be made under the terms of the trust and development of a checklist for the trustees to assist in vetting applications received for distributions.
If you would like to find out more about Covisory Trust Services please visit us at https://covisory.com/trust-services/ or talk to Nigel Smith today on +64 9 307 1777 (firstname.lastname@example.org) or Marcus Diprose on +64 9 307 1777 (email@example.com ).