Trusts Screen

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Overview

Simplify your life with CAS 360! With automated annual reviews, company registrations, company debt alerts, seamless document delivery, digital signing and complete trust management.

Users are able to add an unlimited amount of trusts in CAS 360 as trusts are not counted to your company subscription numbers.

 

Navigation

 From the Main toolbar navigate to Trust

The Trust Selection screen enables you to create, select or review all trusts created in CAS 360.

How to Add a Trust in CAS 360

To add a Trust in CAS 360, Click:

image2018-11-29_11_50_31.png

You will be required to enter the following details:

Trust Name Select a previously added contact from the Global Contact screen, or add a new trust contact to CAS 360 by clicking mceclip8.png beside the trust name.
Trust Type Select either Family, Estate, Trading, Charitable, Investment, Farming, Unit or Other.
Trust Formed Input the formation date of the trust.
Meeting Address Select a previously added address from the Global Addresses screen, or add a new address to CAS 360 by clicking mceclip8.png. This address will be used for the trust's meeting minutes.

Question

Is the trustee a company managed in CAS360? 

When the trustee is a company managed in CAS 360, leave the toggle on, search and select the company from the list.

When the Trustee is another entity switch the toggle off and search and select a previously added contact or add a new contact by clicking mceclip8.png beside the trustee type.

Label To help manage your Trust Selection screen you can directly attach a label to a trust.
Trustee Appointment Input the trustee appointment date.

Select Save to add the Trust to CAS 360.

How to Select a Trust

To select a Trust that has been previously set up in CAS 360, simply search and click on the Trust Name from the list.

This will allow you to input or review the following trust information:

  • Trust Details
  • Other Details
  • Tax Details
  • Relationships
  • Beneficiaries/Unitholders

Trust Details

Input or update the Trust Details

Trust Name

The Trust name. Users can change the trust name by select a previously added contact from the Global Contact screen, or add a new trust contact to CAS 360 by clicking mceclip8.png .

Previous Trust Name

Begin typing the Previous Trust name. CAS 360 will begin searching the Global Contact screen for the Trust. If the Trust has not been previously added to the Global Contact screen, mceclip8.png will appear.

Click mceclip8.png to add a new contact. If there is no previous name, leave this field blank.

Trust Type

Either UnitDiscretionary, Hybrid or Bare.

Meeting Address

Select a previously added address from the Global Addresses screen, or add a new address to CAS 360 by clicking mceclip8.png. This address will be used for the trust's meeting minutes.

Trust Formed

Date the Trust was created

Future Vesting Date Date the trust will conclude or wind up
Trust Deed Issued Date Trust Deed was issued
Trust Deed Updated Date Trust Deed was updated
Settlement Date  
Gifting Date  
Trust Deed

 Users have the ability to upload and save the trust deed in CAS 360.

To upload the trust deed, click Screen_Shot_2020-04-16_at_11.30.09_am.png

Once the Trust Deed is upload, users will be able to the uploaded document inscreen.

Screen_Shot_2020-04-16_at_11.31.35_am.png

Click Screen_Shot_2020-04-16_at_11.32.55_am.png

  • Edit will allow you to download and view the Trust Deed
  • Delete will delete the trust deed from CAS 360

Other Details

The following fields are also available if you wish to record more information about the Trust:

Incorporation Place Enter the State and/or Country
Legal Ownership Enter the Percentage of ownership
Client Number Any internal client number or code
Controlled Entity Name of Controlling entity
Trust Description / Purpose A brief summary of the Trust

Tax Details 

Input any tax details about the trust if required

Tax Entity Type

Entity type for Tax Purposes

Income Tax Consolidation Group See ATO Website
Date Joined/Left Date joined/left Consolidation group
GST Group See ATO Website
Date Joined/Left Date joined/left GST group
Other Tax Information / Purpose Any other tax information related to the Trust
Termination The date ended related to the other tax information/purpose
 
Click 
 

Relationships

Input any tax details about the trust if required

To add a relationship, click Screen_Shot_2020-04-16_at_11.40.57_am.png
The following Relationships can be added:
  • Settlor
  • Appointor
  • Trustee
  • Accountant
  • Auditor
  • Bank
  • Business Name
  • Investment Advisor
  • Lawyer
  • Liquidator

Trust Events

With CAS 360's Trust Events Screen, you can now store and record all asset transactions, liability, gifting, income, and expense transactions for a trust.

See Trust Events

Trust Documents

The CAS 360 Trust Documents screen allows users to view all documents for a Trust.

See Trust Documents

 

Trusts Filters

From the Trust Selection screen, the Advanced Filters allows you to instantly refine your search results:

Filter Explanation
Corporate Trustee Display all Trusts which has a Company managed in CAS 360 as the Trustee.
Contact Trustee

Display all Trusts which have a Contact from the Contacts List.

Unit Trust

Displays all Unit Trusts.

Discretionary Trust

Display all Discretionary Trusts.

Labels
In CAS 360 each trust can have multiple labels. This allows for greater reporting across trusts and is also a key aspect of user rights and document templates in CAS 360. See Company Labels for more information.

 

Additional Options

From the Trust Selection screen, select Options to:

  • Edit the trust (Trust Name, Trust Type, Trust Formed, Trustee Type, trustee Label and Trustee appointment date)
  • Delete the Trust. (Note: unfortunately a deactivate or archive feature for the trusts is not available in CAS 360 at this stage)

mceclip7.png

Trusts do not count towards your Company Subscription count. Only companies added into the 'Company Selection' screen will count towards your subscription.

Trust Documentation in CAS 360

Unitholders

  • Trustee minutes or Resolutions
  • Unitholders minutes or resolutions
  • register of unitholders
  • Unit Certificate
  • Application for Units

Discretionary

  • Distribution Statement
  • Declaration of Distribution Resolution
  • Listing of Distributions Paid.

Xero Practice Manager (XPM) Integration

If you have the integration enabled between CAS 360 and XPM, Trusts added as contacts in XPM will automatically be imported into your CAS 360 Contacts Database.

At the moment, these imported trusts will only appear in the CAS 360 Contacts Database and not in the Trust Selection screen.

See also

Unit Trust Distributions

Add Trust Beneficiaries

Add Trust Unitholders

Trust Listing Report

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