Only a system that can involve all the parties in a trust can optimise efficiency.
With Connectworks, other professionals won't need to request information from your firm, and vice versa as all the trust's information uploaded by each party can be available to all others. This can avoid errors (e.g. Was it a gift or a loan? capital distribution or income distribution?) as well as save your firm the time and (often non-billable) cost of managing these requests.
Connectworks comes with workflows to outline the requirements of 15 tasks, plus includes all the precedents required to complete them. Your staff no longer need to know how to undertake an action for a trust, they can just follow the workflow. And everyone has oversight of what other users have been doing to ensure everything is completed correctly.
There’s no limit on the number of users within each party (such as a professional firm) that can have access and different levels of staff access rights can also be set.
PRECEDENTS AND DOCUMENT MANAGEMENT
Connectworks contains all the precedents, workflows and clauses you’ll ever need.
Connectworks provides professional firms access to over 185 trust and estate precedents and workflows, plus 50 clauses for easily building resolutions. These are regularly reviewed and updated, so you and your staff will never waste time finding precedents or risk using out-of-date ones again.
The precedents and clauses automatically merge with the details of the trust and trustees or beneficiary details in seconds and are produced as MS Word documents for any further editing. Think about how much time you’ll save! Firms can even create their own precedents for their exclusive use. These can also be set up to auto-merge with trust plus trustee or beneficiary details.
Then they can be distributed for signing and are securely stored within Connectworks.
There are multiple ways to easily find any trust you’re involved with, even by searching the name of a person involved or the matter number. Then any document within it can be found multiple ways.
Manage your trustee companies
Connectworks delivers New Zealand most comprehensive software solution for managing companies and it’s available for you to manage your trustee companies. Plus, there’s no charge as long as the trust (s) it’s a trustee for also has a current Connectworks subscription.
Connectworks includes 277 company precedents and all the features required for company compliance including a compliant share register, an interest register, and more.
Plus, there is the ability for the required number of directors to easily sign from anywhere, the ability to e-file annual returns at a cheaper rate and much more.
A single login enables both professionals and clients to access both trusts and companies they’re involved with.
As a professional, you also have a complete view of all the client’s entities and their ownership.
Clients have a single login and one way to sign, whether it’s for the trust or company they’re involved with or something for them as an individual.
Setup is easy
There are lots of ways we can help to load trust data and documents into Connectworks.
This includes imports from existing trust management, practice management or document management software.
We have loading templates, we can help advise on scanning solutions and we even have trained people around the country who can go into firms to load trusts and trustee companies.
Talk to one of our on boarding team today to find out how we can make the process painless.
firstname.lastname@example.org or call 0800 456 580
Achieving compliance and protecting your firm
Connectworks contains a shared, online minute book for the trust. All trustees and advisers can easily take start or take part in discussions, plus see and approve resolutions.
Many firms are making the use of Connectworks mandatory where they’re a trustee.
So, they either have oversight of client activities in advance, evidence of ultra vires acts if activity isn’t disclosed
Other features to help compliance include the comprehensive checklists and precedents included, the ability to produce a complete audit-trail of all activity, the easily ability to meet record-keeping requirements and much more…
specific assets and liabilities management
Connectworks isn’t attempting to provide a comprehensive accounting solution.
However it does include the ability to manage trust-specific tasks such as gifting, related-party loans and their repayments, and distributions.
Again, it can be accessed by all users if the trust is on an appropriate subscription plan, so the trusts accountant and lawyer are looking at the same information in real time. This can avoid common problems and questions such as “was it a gift or a loan?” or “+a capital or income distribution?”
Flexible and convenient signing
Connectworks offers the most flexible choice of signing options.
Ability for all users to sign electronically, manually, and even by a mix of methods on the same document. Signing is faster as done concurrently, not sequentially.
Connectworks can also be used for signing documents not generated through it.
Our document pack enables multiple documents to be easily collated and distributed. Users can even sign multiple documents concurrently.
Secure storage and easy access
Trust information on paper or local servers is vulnerable to earthquakes, floods, fires and more over the life of the trust.
As a modern software system, Connectworks is naturally cloud-based.
All information is held using world-class levels of security and documents are encrypted.
As a cloud-based product, authorised users can access Companyworks from anywhere, at any time, on any computer or tablet with internet access.
Trust documents are required to be held even if a trust is wound-up. Connectwork also provides an archive plan to securely retain information beyond the life of the company
See Flexible subscription options and NZ- based support