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Trusts

With a team that has experience ranging from 4-29 years we are well positioned to help and advise you on all family trust law issues. So have a look below and find the specific area that relates to your issue and then get in touch...

 

Trusts - Rachael Dewar LawTrusts are a very popular way to hold assets in New Zealand.  There are many benefits to having a trust, including providing certainty in estate planning and protecting family assets from unforeseen claims by third parties.

As well as assisting with the re-settlement or variation of trusts in the event of separation, we can also assist with ongoing trust administration, and winding up trusts. 

If you have any trust queries, please contact Colette at colette@dewarlaw.co.nz. Colette is an expert on Trusts. She can help you decide whether a Trust is right for you.  She can also discuss likely costs to set up, administer, or wind up a trust with you.

You can also get information about Trusts by reading the Law Society’s Guide to Family Trusts.

Trust administration

Trusts need to be actively managed if they are to fulfil the purpose for which they were set up.  We can assist you with your ongoing trust administration by sending you regular reminders and carrying out annual trust reviews. We can draft trust resolutions to record the fact that the trustees have been actively monitoring and managing the trust assets.

Trust formation

Trusts have in the past been established in order to minimise tax liability, or to preserve the ability to obtain a rest home subsidy.  Those are not necessarily valid considerations today, so it is important that you discuss your particular circumstances before deciding to establish a family trust. We can help you decide whether a Trust is the best way to protect your assets.

If you decide a Trust is right for you, we will guide you through the process of forming the trust, help you decide who the trustees should be, and carry out the transfer of assets to the trustees.

Variation of trusts

When a couple who hold family assets in Trust separate, one party may wish to retain the benefit of the Trust to the exclusion of the other. It is vital that both parties seek legal advice to ensure that this is carried out properly. For example, the interests of all beneficiaries must be taken into account.

Winding up trusts

Trusts generally last for 80 years.  There may also be circumstances in which you decide that you want to bring a trust to an end earlier than that. For instance, if you separate.  It is important that the terms of the trust deed are carefully followed, so that the beneficiaries cannot attempt to challenge that decision in years to come.

To see if we can help you contact Rachael Dewar
t - 04 891 0500
f - 04 891 0503 rachael@dewarlaw.co.nz

Level 9, 38-42 Waring Taylor Street, Wellington
PO Box 5786, Wellington 6145

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