• It’s one thing not having a will, but what about time bombs waiting for clients within their trust deeds upon their death!


    It appears that no one is responsible for checking these areas of a client’s affairs. Professionals set them up, then walk away and it’s left to the client .


    Over the last 12 month’s , I have been championing the introduction of a specialist Estate Planning  service for  a select number of client centric accountants .


    What we found was that relatively few clients  were properly organised ( under 15 % ) and worse still  their corporate structures were often inconsistent with their estate intentions.


    We recently saw an example of a 30 year old deed for a trust established by our client’s father. The problems were that it appoints the Public Trustee as the back up Appointor and the deed has NO powers to change Apppointors or amend the deed . Once our client dies, the Public Trustee steps in.  The good news is there is a solution if we act now before its too late.


    Begs the question as to how many time bombs are sitting in client files ( trusts) that could make a difficult personal situation  a financial wreck as well .


    time-bomb.pngtCertainly worth checking all those old deeds and your clients will love you for it!Matt_Brannelly-index1_1000x288.jpg