Trust & Private Wealth Accounting

The Trusts Act 2019 introduced new obligations, but trusts remain a valuable tool for asset protection, estate planning, and wealth structuring. We help assess whether a trust is still right for your situation.

Trustees must keep records, prepare financial statements, file tax returns, and meet disclosure obligations to beneficiaries. We handle all of this for you.

We coordinate closely with your lawyer, financial planner, and other professionals to ensure your wealth strategy is aligned and efficient across all disciplines.

Yes. We specialise in helping families structure, protect, and transition wealth across generations — balancing tax efficiency with family values and long-term goals.

Trust accounting has unique requirements — trustee reporting, beneficiary allocations, distribution tracking, and compliance with the Trusts Act. We bring specialist expertise in this area.

Discretion is fundamental to our private wealth practice. We maintain strict confidentiality protocols and limit access to sensitive information within our team.

The main costs are annual compliance, loss of direct control of assets, public visibility through IRD disclosures, and ongoing trustee obligations. For smaller estates, the benefit may no longer justify the cost. We run a fit-for-purpose review before recommending either way.

A testamentary trust is a trust created by your will, activated on your death. Common uses include protecting minor children’s inheritances, managing assets for vulnerable beneficiaries, and preserving tax flexibility across generations. We work with your lawyer on the drafting and handle the accounting once the trust is live.

Trustee income is generally taxed at 39% from the 2024-25 tax year (previously 33%). Beneficiary distributions may be taxed at the beneficiary’s personal rate, depending on the rules. We advise on distribution strategies that keep the overall tax cost down.