PUBLIC TRUST OFFICE.

Taranaki Daily News, 18 December 1920, Page 5 (Supplement)

PUBLIC TRUST OFFICE.

ITS GREAT -PROGRESS. The continued growth of the Public Trust Office, and the success and magnitude of its operations, will be realised by a perusal of the following article touching on its recent developments: — On the 31st March, 1920, there were 14,079 estates under administration, of a total value of £-20,800,686, the increase for the year being in value £1,018,339. The profit earned during the year was £78,246, as compared with £7'0,155 for the previous year, of which amount £138,000 has been appropriated as a bonus to the estates under administration. It has been the policy of the office for the past four years to share the profits with .its clients, and the total appropriation under this heading to the 31st. March last is £153,000.

The balance at credit of estates under administration now nearly reaches £12,000,000, an increase of £1,850,000 during the year. In a period of less than twenty years the balances at credit of estates under administration have grown from less than i£ 1,000,000 to nearly £12,000,000. The remarkable growth of the office has necessitated a thorough re-organisa-tion to eope with the work efficiently, and the Public Trust Office Board has effected, during the past year, many changes which are appreciated by the clients and beneficiaries of the office. The work connected with the administration of estates, as well as the accounting work connected therewith, has been localised in each centre under proper safeguards, and a system established at all district offices for the constant review ty specially qualified officers of all estates under administration.

In Taranaki the popularity of the office is evidenced by the fact that it has been found necessary to open a branch office at Stratford, in addition to those already established at New Plymouth and 'ilawera, while branch offices open ono day a week have been established at Waitara, Inglewood, and Elthain.

The secret of the popularity of the Public .Trust Office is its efficiency, combined with the reasonable charges for services rendered, and it is worthy of note that the strongest supporters of the office are to be found amongst the benefUiarics in estates administered by the Public Trustee.

Any person about to make a will, should call first at the nearest branch of the Public Trust office, where advice may be obtained free of charge, and full information supplied by experienced officers,

Business men and farmers will appreciate especially the provision in the Public Trust Office Act regarding Advisory Trustees. By this provision the Public Trustee may be appointed executor with an Advisory Trustee, who is an expert in the testator's particular trade or business. The Public Trustee as executor will have the benefit of the advice of the Advisory Trustee, while the latter is freed from the worry and loas of time attendant on the administration work.

The Public Trust Office is a busyiesg institution free from the red tape usually surrounding Departments of State, and its present position has been won on merit alone.