Creating a Trust

‍

Placing assets like property in a Family Trust can protect those assets against claims on your estate, and keep them in the family for future generations.

‍

A New Zealand family trust has three parties: the settlor (or donor), who puts assets into the trust; the trustee, who manages those assets according to the terms of the trust agreement; and the beneficiaries, who benefit from those assets according to the terms of the trust agreement.

Setting up a family trust involves sound advice and legal expertise. As New Zealand’s trust laws change, trustee obligations, trust reviews, and letters of wishes may also need updating to reflect the new situation. In fact, future law changes may mean a trust that worked for you in the past is no longer suitable moving forward.

‍

It's important to be as informed as possible when creating a family trust — The more knowledge you have the better prepared you can be. For advice around asset protection and creating a trust to look after your family and loved ones, contact one of our experienced lawyers today.