PUBLIC TRUST OFFICE

Wairarapa Times-Age, 18 August 1938, Page 3

PUBLIC TRUST OFFICE

OPERATIONS DURING-PAST YEAR SUBSTANTIAL INCREASE JN BUSINESS “During the past year 2934 estates and funds of a total value of £5,966, 359 were accepted for administration, as compared with 2770 of a value -of £5,968,109 the previous year,” states the annual report of the Public Trust Office for the year ending March 31.” There was therefore a substantial increase in the number of new estates and funds, but the aggregate value was approximately the same as in the previous year. “The total number of estates and funds under administration at the close of the year was 19,068 of an aggregate value of £60,815,306, as against 18,874, valued at £60,770,814, at the end of the previous year. There was therefore a small increase in both the number of estates and,the aggregate value. “In addition to the business referred to in the previous paragraph, there are many cases where the Public Trustee is required to supervise the administration by private persons of the estates of mental patients and aged and infirm persons. In other cases the duties are not of an active character — e.g., trusteeships for debenture-holders. By including these figures the value of the estates and funds under administration at the close of the year would be increased by £1,835,152. “During the year 4502 wills appointing the Public Trustee executor or trustee were deposited by testators, representing a slight increase over the corresponding figure of 4408 for the previous year. The majority of the wills were prepared by the Office. The number of wills withdrawn during the yeai - through the death of testators or otherwise was 2349. At the close of the year there were 90474 wills on deposit, showing a substantial increase of 2153 over the number at the beginning of the year, which itself constituted a record in the history of the Office. “During the year 3981 wills were redrafted to provide for alterations desired by testators, as compared with 3898 redrafts for the previous year.” The report adds that wills and trust estates form the most valuable portion of the new business for the year, comprising 1710 estates and trusts of a value of £3,932,693 out of the total of £5,966,359. During the year 508 intestate estates of a value of £352,481 were accepted for administration.