Kiwi Sham by Mark Maxwell
Integrity Trust Trust Bust Test
There are estimated to be over 250,000 trusts in New Zealand today. Most experts agree that at least 75% of these are at risk of being challenged.
 
Take the Trust Bust Test today to find out whether your trust is providing you and your family the protection you think it is.
 
 
Trust Bust Test   Select Yes or No
1 Do all Trustees have a personal copy of important trust documentation such as the Trust Deed?   Yes No
2 Have all Trustees read the Trust Deed in the last 12 months?   Yes No
3 Are all Trustees actively involved in all trust decisions made?   Yes No
4 Has a formal meeting of the Trustees been held within the last 12 months?   Yes No
5 Have all Trustees decisions been recorded in writing?   Yes No
6 Have financial statements been prepared for the trust each year?   Yes No
7 Has gifting been completed within the last 12 months?   Yes No
8 Do Trustees have a written investment policy for the trust?   Yes No
9 Does the trust have a separate bank account?   Yes No
10 Is the trust free of borrowings? (i.e. the trust does not have a mortgage)   Yes No
11 Is any trust property still the same as when it was purchased by the Trustees? (i.e. no improvements or alterations have been made)   Yes No
12 Have all insurances been transferred to the Trustees and acknowledged in writing by the insurer?   Yes No
 
   
 
 
The information contained in this test does not constitute legal advice and should not be relied upon as such. It is only intended to provide general information in summary form on legal issues commonly encountered and current as at the time this test was first published. The recipient’s use of this information does not under any circumstances whatsoever create any legal relationship between Integrity Trust Limited and the recipient. Although Integrity Trust Limited goes to considerable lengths to ensure that this information is accurate and up-to-date it gives no warranty or guarantee that the information is accurate, complete or current and shall not be liable whatsoever to the recipient regarding such matters. The recipient should seek expert legal advice in respect of particular matters.

© 2006 Integrity Trust Limited. Version 1.0
 
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