Trust minutes

[Nominees]

Do any of you keep trust minutes, or is keeping records in MYOB enough?

I have a lot of "back dating" minutes to do and was wondering how you all do it.

Do you use a word template? (and re-use whenever you need to.)

Cheers,

Nom

 

[bundy1964]

Hi Nom

I keep minutes for other things, I use publisher for that and edit what I have to, word or similar would be just as good.

Someone who knows more about trusts than me recomended that you take minutes so your Accountant can follow your line of thinking.

bundy

 

[paulzag]

I am the sole director of one of the trustee companies.

I just make a file note, print it out, sign and date it. File in the minute book or send to the accountant for filing.

I do that when a decision is made. Things like deciding to pay the electricity bill don't need a note.

Regards

Paulzag
Dreamspinner

 

[NickM]

Nom
i prefer to use Resolutions rather than minutes

The difference is that a minute records a current event whilst a resolution is a record of an event / meeting that took place in the past.

Thus "backdating" is not necessary (nor is it recommended)

eg The trustees resolved on 30/6/03 to purchase a property situated at ............

11/9/03
SIgned

Nick M

 

[paulzag]

Thanks Nick

Resolutions! That's what they're called again. Yes that's how I phrase them.

I've been having problems remembering economic/legal phrases recently.

List of forgotten words/phrases this week:

Resolution
Law Society
Inelastic Demand

There are about three others and it's really frustrating.

Regards

Paulzag
Dreamspinner