Discretionary Trust Management
How it works
The support we provide
The Personal Advocacy and Safeguarding Adults Trust can administer Discretionary Trusts on behalf of adults with learning disabilities, neurodiversity, cognitive impairments, or other care and support needs.
Funds are securely invested, accounted and reported on, and are easily accessible to the beneficiary by application to the Board.
Discretionary Trusts work well when established for people who are also receiving ongoing advocacy support (or our legacy lifetime advocacy support). They may be used to help parents and other interested parties plan for the future, and facilitate the ongoing payment of advocacy support fees.
Discretionary Trusts may also be established as a stand alone service for beneficiaries who do not receive any ongoing advocacy support from PASAT.
Discretionary Trusts are established through a Deed of Trust or Testamentary Will which outlines:
-
Who the trustees are - including any co-trustees or advisory trustees
-
What the funds should be used for (including ongoing advocacy if applicable)
-
What the funds should not be used for
-
Who the residual beneficiaries are
What it costs
Discretionary Trust funds must have a minimum opening balance of $20,000
Onboarding
The cost to establish an new Discretionary Trust. A minimum opening balance of $20,000 is required.
$1,250 excl GST
General Time
Invoiced to the Discretionary Trust annually for actual time and attendances (beneficiaries who receive lifelong or ongoing advocacy support receive the first two hours free)
$125/hour excl GST
Tax Return Completion
Completed annually
$300 excl GST
Commission
Charged annually
1.5% up to $500,000
.5% for all funds above $500,000
Application / Disbrusement Fees
Nil
Learn more
To learn more about establishing a Discretionary Trust please contact advocacy@PASAT.org.nz or call 0800 728 7878