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Appointment Of Trustee Resolution

Appointment Of Trustee Resolution Template for New Zealand

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Key Requirements PROMPT example:

Appointment Of Trustee Resolution

"I need an Appointment of Trustee Resolution for the Family Smith Trust to appoint two new professional trustees from March 1, 2025, while retiring one individual trustee who is relocating overseas."

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Document background
The Appointment Of Trustee Resolution is a crucial governance document used in New Zealand trust administration when changes to trustee appointments are required. It is essential for maintaining proper trust records and ensuring compliance with the Trusts Act 2019 and other relevant legislation. This document is typically required when trustees need to be added or removed due to retirement, resignation, death, or strategic decisions about trust management. The resolution includes specific details about the appointment process, relevant trust deed provisions, consent of new trustees, and arrangements for the transfer of trust assets. It forms part of the official trust records and may be required by third parties such as banks, land registry offices, or regulatory authorities as evidence of trustee authority.
Suggested Sections

1. Title and Date: Formal title of the resolution and date of the meeting/decision

2. Present: List of individuals present at the meeting, including existing trustees, appointers, or other relevant parties

3. Power to Appoint: Reference to the trust deed clause or legislative provision giving power to appoint/remove trustees

4. Background: Brief context about the trust and reason for the trustee appointment/removal

5. Declarations: Declarations regarding conflicts of interest or other relevant matters

6. Resolutions: The formal resolutions being made, including specific details of trustees being appointed or removed

7. Confirmation: Confirmation that the appointment complies with the trust deed and relevant legislation

8. Execution: Signature block for those exercising the power of appointment

Optional Sections

1. Quorum: Statement confirming quorum requirements are met - include when the resolution is made at a formal meeting

2. Chairperson: Appointment of chairperson - include when the resolution is made at a formal meeting

3. Retiring Trustee Discharge: Specific provisions regarding the discharge of retiring trustees - include when trustees are being removed or retiring

4. Transfer of Assets: Provisions regarding the transfer of trust assets - include when there are specific assets requiring formal transfer

5. Indemnities: Provisions regarding indemnities for incoming or outgoing trustees - include when requested by trustees

Suggested Schedules

1. Schedule 1 - Trust Details: Details of the trust including date of establishment, current trustees, and trust deed particulars

2. Schedule 2 - Consent to Act: Written consent from new trustees accepting their appointment and responsibilities

3. Schedule 3 - Identity Verification: AML/CFT compliance documentation for new trustees

4. Schedule 4 - Certificate of Non-Revocation: If resolution is executed by attorney, certificate confirming power of attorney is valid

5. Appendix A - Trust Deed Extract: Relevant extracts from trust deed regarding trustee appointment powers

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Legal Services

Financial Services

Wealth Management

Professional Services

Banking

Real Estate

Charitable Organizations

Family Office Services

Estate Planning

Investment Management

Relevant Teams

Legal

Trust Administration

Wealth Management

Compliance

Risk Management

Corporate Services

Property Management

Investment Operations

Client Services

Document Management

Relevant Roles

Trust Lawyer

Corporate Trustee

Trust Administrator

Legal Counsel

Company Secretary

Wealth Manager

Estate Planning Attorney

Trust Account Manager

Compliance Officer

Trust Operations Manager

Private Client Advisor

Property Manager

Investment Manager

Risk Manager

Trust Services Director

Industries
Trusts Act 2019: The primary legislation governing trusts in New Zealand, providing the legal framework for trustee appointments, trustees' powers, duties, and responsibilities.
Land Transfer Act 2017: Relevant when the trust holds real property, governing the registration of trustees on property titles and transfer of property between trustees.
Income Tax Act 2007: Governs the tax obligations of trustees and trusts, including requirements for tax returns and liability for tax on trust income.
Financial Markets Conduct Act 2013: Applicable if the trust holds investment products or financial assets, governing trustee obligations regarding financial investments.
Anti-Money Laundering and Countering Financing of Terrorism Act 2009: Sets out compliance requirements for trustees regarding AML/CFT obligations, particularly relevant for financial transactions and reporting.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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