Trust establishment and advice.
Need a trust to protect your assets?
Your local Palmerston North law firm.
What is a trust?
In its simplest form, a “Trust” is established when a person agrees to hold property for anther. With a “Family Trust”, there is always a deed because the person who used to own the property, the Settlor, the Trustee and the Beneficiary all need to know the terms of the Trust.
What is a valid trust?
It is important for a Trust to be managed properly with good record keeping. A trust which is neglected is vulnerable to be upset by creditors or claimants, just when protection of the Trust assets are needed most.
Who needs a trust?
- A person whose occupation or business puts them at increased risks of claims from creditors
- A person wishing to control intergenerational asset transfers
- A person seeking protection from relationship property or family protection claims
- A person needing help with management of their affairs through age, ill health or disability
- Tax planning
What happens if you do not have an effective Family Trust?
Your assets are vulnerable to claims from third parties eg. creditors and former partners.
Expert advice tailored to you.
Main areas.
- Establishment of trust
- Associated asset transfer loan and gifting
- Changes of Trustees and/or Beneficiaries
- Variations to Trust
- Trust distributions
- Trust administration
