Trustees Executors Private Wealth provides a one team approach, a total wealth management service where you can get everything sorted in one place.
Trustees Executors Private Wealth provides a one team approach, a total wealth management service where you can get everything sorted in one place.
Find out how Trustees Executors can help you, whether you are looking for funding from one of the charitable trusts we administer, or are looking to establish a legacy of your own.
We all want a secure financial future for ourselves and those we care about and where you turn for advice is one of the most important decisions you’ll make. Trustees Executors Private Wealth provides a one team approach, a total wealth management service where you can get everything sorted in one place.
Knowing you have taken the right steps to ensure your loved ones are cared for after you're gone is what estate planning is all about.
Talk with one of our Private Wealth experts who will work alongside you to help you make the most of our services.
There are many ways to grow and protect your wealth, and our skill is to help you understand your choices and create and implement a personal wealth strategy to suit your needs. It all starts with a plan.
We are uniquely placed in the market as the only provider of fund administration, corporate trustee and wealth services in New Zealand.
We are uniquely placed in the market as the only provider of fund administration, corporate trustee and wealth services in New Zealand.
We are uniquely placed in the market as the only provider of fund administration, corporate trustee and wealth services in New Zealand.
Expertise you need, service you deserve. As your trusted and independent licensed supervisor, we deliver our regulatory leadership through collaborative partnerships that protect the interests of your investors.
For more than 25-years we have been leading providers of custody, investment accounting and unit pricing services to the managed fund industry.
For more than 25-years we have been leading providers of custody, investment accounting and unit pricing services to the managed fund industry.
Aug 20, 2019
These may seem obvious questions but as a Trustee Company with over 135 years’ experience helping New Zealanders manage their wealth and affairs, we have seen many problems that could have been avoided with a little knowledge and action in advance.
We are specialists in arranging EPAs, wills, agencies, trusts and managing property and other investments. So we thought a few tips arising from our experience might be useful.
Arrange EPAs
EPAs are documents whereby you grant the authority to another person(s) to act on your behalf if you are ever unable to. This can be extremely useful if you are out of the country, or otherwise indisposed and need something actioned.
There are two types of EPA. One grants authority to act with respect to your property. This includes bank accounts, financial assets, real estate and other types of physical assets. While it’s possible to manage many financial issues from afar over the internet there are still many occasions when it would be to your advantage to have someone at home who is able to help you out.
The second type grants authority to act in matters of personal care and welfare. Whether abroad or at home it is equally important to have someone who can make decisions about your medical care if you are unable to – especially if mental incapacity arises.
EPAs are important and powerful legal documents. It is essential you take advice in their preparation and Trustees Executors can help you with this.
Even if you do have them prepared, when did you review them last? Is your attorney still appropriate? Where are they kept and does your attorney know where they are?
Arrange to delegate your duties as a trustee
Many trustees do not realise there are only a few situations where they can delegate their duties as a trustee to someone else. EPAs do not apply to trusteeships.
There are four circumstances when a trustee may delegate his or her duties to an attorney under the Trustee Act, namely when the trustee:
Preparation of powers of attorney to address these situations also requires specialist knowledge. Certain certificates may need to be prepared as well. Special circumstances also exist if you are a trustee for an estate.
In all cases where there might be a need to delegate duties as a trustee you need to take advice from a suitably experienced legal practitioner.
Review your will
It’s a good idea to have a read of your will every 3-5 years to ensure it will still provide the outcomes you want. Take the opportunity to do this in the weeks before you set off. It’s unlikely that something may happen to you on holiday but we know the worst can sometimes happen.
Get good travel insurance
Risk is something we are always thinking about at Trustees Executors. There are a few risks to travelling that could end up being expensive to remedy. You might fall ill during or before your travels requiring expensive treatment or urgent medical repatriation. You might lose credit cards or other valuables, for example.
Insurance is a good tool to avoid potential large monetary loss from an adverse event so buying a good travel insurance policy is a good way of protecting your wealth and giving you some further peace of mind. Remember, you often get what you pay for so it’s worth investing in a policy with the best features.
Plan how you will pay for things
You want to be able to pay safely and avoid loss of money while you are away. Do some research and get advice on the best ways to deal with, and keep safe, your foreign currency via cash, debit cards, credit cards and travellers cheques.
If you would like to know more about any of the estate planning matters raised above, or would like us to help in any way please get in touch with one of our Private Wealth experts today.
Please call 0800 002 431 or email [email protected]
Trustees Executors Limited was established in 1881 and is New Zealand’s first Trustee Company.
We provide a full range of financial and trust solutions to individuals, families and the corporate sector, including estate planning, trustee and investment advisory services.
We are a Licensed Financial Markets Supervisor and a leading provider of specialist Corporate Trustee and back-office fund administration services to some of New Zealand’s largest financial institutions, banks and fund managers.
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