As professional trustees at Ingham Mora, we’re often asked: “Why should I pay for a trustee when I could just appoint a friend or family member?”
It’s a fair question. But managing a trust is about more than just having your name on a piece of paper—it carries serious legal, financial, and ethical responsibilities. A professional trustee brings expertise, objectivity, and peace of mind, ensuring your trust is properly managed and compliant with New Zealand’s trust laws.
What does a professional trustee do?
A trustee is responsible for managing a trust’s assets in the best interest of the beneficiaries. This involves handling investments, distributing funds appropriately, keeping accurate records, and ensuring the trust operates in accordance with the Trust Act 2019. Trustees also have a legal duty to act impartially and with care, which can sometimes be difficult for family members who have personal ties to the beneficiaries.
The key benefits of a professional trustee
1. Ensure compliance and reduce risk
Trust law in New Zealand has changed significantly with the introduction of the Trusts Act 2019, bringing stricter requirements for trustees. Many individuals who take on this role are unaware of their obligations, which can lead to unintended breaches of the law.
At Ingham Mora, we ensure your trust is compliant, keeping up with regulatory changes and maintaining proper records. This is particularly important as many families use trusts to protect assets, manage wealth, or structure business ownership.
2. Avoid family disputes
One of the most common issues we see is family tension when a family member is appointed as trustee after the death of the original settlor. Disagreements can arise over asset distribution, perceived conflicts of interest, or the handling of financial matters. A professional trustee provides neutrality, making decisions based on legal and financial best practices rather than personal relationships.
For example, we recently helped a Tauranga family navigate a complex discretionary trust where siblings had differing views on the sale of a commercial property and distribution of funds. As professional trustees, we acted as an impartial decision-maker, ensuring a fair outcome while preserving family harmony.
3. Expert financial and investment management
As part of Ingham Mora, we have a team who can assist in maximising the value of your trust’s assets. Whether it’s suggesting potential investment advisors to talk to, helping you understand and navigate investment options, managing tax obligations (and risks), or ensuring trust distributions align with the trust’s objectives and clients’ wishes, our expertise ensures the long-term success of your trust.
4. Long-term stability
If a family member is appointed as a trustee, what happens if they move away, become ill, or pass away? Trusts are meant to last for generations, so stability is crucial.
When you appoint Ingham Mora to act as your trustee, you appoint a corporate trustee company. Corporate trustees provide continuity even after the death or incapacity of individuals involved in the trust. The trust administration will continue seamlessly, as the company will not be affected by personal issues like health or family disputes.
5. Relieve the burden from family
Trust management can be time-consuming and complex. It requires ongoing administrative work, financial literacy, and legal knowledge. For many people, the stress and workload are overwhelming.
By appointing Ingham Mora as your professional trustee, you free your loved ones from this burden, allowing them to focus on their lives without the pressure of managing a trust’s obligations.
Is a professional trustee right for you?
If your trust holds significant assets, involves multiple beneficiaries, or is structured for long-term wealth management, a professional trustee is a smart investment. Tauranga families and business owners trust Ingham Mora to provide reliable, knowledgeable, and impartial trust management services.
We’d love to discuss how we can help safeguard your trust and ensure its success for years to come. Contact us today to learn more about how our professional trustee services can benefit you and your family.