For more information, refer to the instructions below.
Add an Existing Trust
This function allows you to add details of each type of Trust to then be stored in the register.
You can find the "Add an Existing Trust" function either via Menu > Trust Register > "Add an Existing Trust" or from Menu > Trust Register > Trusts > "Actions" > "Add an Existing Trust".
Once you have selected the "Add an Existing Trust", a list of the different types of Trusts will appear. Click on the type of Trust you wish to add. It will then open up a profile page for the Trust for you to complete.
Trust Ready Reckoner
A coloured bar appears on the top of the Trust Profile (see below). This is referred to as the ‘Trust Ready Reckoner’. 100% completion means that all information has been completed on the specific Trust. If the ‘Trust Ready Reckoner’ is at less than 100%, specific data requiring completion will be highlighted.
Tips on completing the Trust Profile
Adding multiple Unitholders
Once the first Unitholder has been added and the profile saved, click on the "Update Trust Details" button to add additional Unitholders.
Tip: When at least two Unitholders are added, the "Remove" button becomes available in every section to remove the Unitholders. At least one Unitholder should remain in the Trust. When the second Unitholder is removed, the "Remove" button becomes unavailable for the first Unitholder.
Removing a Unitholder requires confirmation. Click on the "Remove" button, and the below confirmation window appears.
By selecting the "Confirm" button, you are indicating the selected Unitholder section will be removed from the Trust Profile.
This section is optional for a Discretionary Trust. This box will default to not having Appointors. You will need to tick the box if the Trust is to have Appointors.
To add the Appointor(s) information, click on the "Update Trust Details" button.
Scroll down to the Appointor section and click the "Edit" button or deselect "This Trust doesn't have Appointors" check-box or click "Add Appointor" button.
By clicking on the "Add Appointor" button, the "This Trust doesn't have Appointors" check-box will disappear and fields to add Appointor's information will also be displayed.
To add another Appointor, click on the "Add Appointor" button, the data fields to input the details of the second Appointor will then appear. Up to 4 Appointors can be added.
Once the information in the Appointor section is saved, the platform will then invoke a Successor Appointors section. This is optional and allows you to nominate one or more Successor Appointors. It will automatically default to no Successor Appointors unless you click the "Edit" button or deselect the "This Trust doesn’t have Successor Appointors" checkbox.
Note: It is important to click the "Save" button after adding or amending any data, otherwise, it will not be saved.
To add Beneficiary details click on the "Update Trust Details" button.
the Scroll down to the Beneficiaries section and select the "Edit" button or deselect the "This Trust doesn't have Beneficiaries" option. The Beneficiary data fields will then appear.
You can choose between an individual or corporate Beneficiary. Only a Primary Beneficiary can be an individual.
Once entered, click the "Save" button otherwise details will not be saved.
To add additional Beneficiaries, simply click on the "Add Beneficiary" button and choose a type of Beneficiary in the "Beneficiary type" drop-down menu.
Once the second Beneficiary is added, a "Remove" icon ("cross") appears for each added Beneficiary. You can remove any added Beneficiary if required, but at least one beneficiary must remain for the Trust to be valid.
Note: After Beneficiaries have been added and saved, the Beneficiaries will be sorted by their type. Individual Beneficiaries will be shown first, then corporate Beneficiaries. Primary Beneficiaries will always be on the top of the list.