PUBLIC TRUST OFFICE.

Auckland Star, Volume LXII, Issue 85, 11 April 1931, Page 19

PUBLIC TRUST OFFICE.

regard to "Testator's" onslaught on the Public Trust Office, I, and no doubt thousands pf 1, others, have read the report of Mr; Justice Blair's criticism, and have been perfectly satisfied with the Public Trustee's reply. A commission basis js the only practicable ajid equitable basis upon which the Public Trustee or any trust corporation, in and out of. New Zealand can operate. It is the "maximum" rate that can be charged, subject always to reduction as circumstances warrant it. "Testator" belabours the point of "free" wills, that is wills prepared by the Public Trust Office free of charge, and without any obligation on the testator. He completely 6verlooks the fact that any one can make a fresh will when he likes, there being no obligation or necessity to go back to the Trustee for subsequent wills. If the testator does so, there is still no charge. Moreover the mere fact that the service is free, and does not entail dipping into one's pocket for .a guinea or so, has in itself been the means of protecting thousands of families by wills, which wpuld otherwise not. have been in existence. "Free" wills are an important social service. "Testator" seems concerned as to the reason why the Public Trustee should be appointed when an estate is left to a single beneficiary without any trusts. The average man in such a appoints tHe Public Trustee for innumerable reasons, amongst them being:—(l) He realises that , the one dearest to him, will, and must get a square deaf, with the whole of New Zealand behind the efficient and speedy administration of the estate. (2) That the percentage charged' as commission covers everything, with the exception of court costs and disbursements, no charge, I. understand, being made for taking out probate or for Stamp Accounts. The testator knows exactly where he stands. (3) The person or friend that he appoints as executor may die before he has tiqfe to execute another will, or may go bankrupt, etc. The Public Trusteeship never dies nor can he become insolvent. (4) The testator is often averse to putting gratuitous responsibility on his best friend, who may neither want nor be fitted for the task. (5) The special powers and financing ability of the Public Trustee, enables the estate to have the benefit of help when help is often "badly wanted. ANOTHER TESTATOR.