The Public Trustee as your Trustee

The Public Trustee as your Trustee

The Public Trustee will assign your trust a dedicated client account manager. They will be there to liaise with your beneficiary as they need. Also backing your client account manager will be a team of specialist solicitors, accountants and taxation experts.

How would you involve family members and carers? 

We often consult with family members and carers to make decisions about expenditure, investments and other matters relating to your beneficiary’s interests.

Who will be responsible for your trust?

Your trustee is ultimately responsible for all funds spent from the trust. A family member or carer can recommend expenditure on behalf of your beneficiary and we will take their wishes into account. However, we are still accountable by law and would require evidence to prove any payment was in the best interest of your beneficiary. At times, we might even need to present this evidence in court.

How can you advance funds from your trust? 

We have criteria for advancing funds that have been formulated over many years of managing trusts.

Each request for an ‘advance of funds’ will be carefully considered to ensure your beneficiary’s best financial interests are protected. This requires careful planning in conjunction with your family and carer.

The following steps are commonly followed to advance funds:

  1. Contact the Public Trustee for approval of the purchase.
  1. If required, obtain quotes and specific costs.
  2. Advise us of the purchase and forward receipts.

(There are other methods to advance funds which we can discuss).

Why do trustees require substantiation of expenses?

The Public Trustee requires written evidence (e.g. receipts) to justify financial transactions. This applies to all clients, their families and carers.

Unfortunately we can’t just accept the word of family members and carers. We can consider your comments in good faith, but each decision must be fully documented to ensure that the beneficiary’s interests are always protected. We ask that families and carers consider this and hope that they are not offended when asked to provide substantiation. 

What if the care or custody of the beneficiary changes?

If any changes occur to your beneficiary’s care or custody arrangements, we should be advised immediately. This can affect how we advance funds to your beneficiary.

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