A family trust is a way to hold and legally protect some or all of your assets, for you and your family, now and in the future.
Many types of assets can be put into a family trust, including the family home.
Why have a family trust?
Examples of reasons for having a family trust include:
· Keeping specific assets in the family for future generations.
· Estate planning and tailored arrangements to protect against claims on your estate.
· Protecting against claims in the event of relationship breakdown, used along with a
Relationship Property Agreement (sometimes called a "pre-nup" or contracting out agreement).
· Creditor protection in certain circumstances.
Who should have a family trust?
Whether a family trust is right for you depends on your personal situation. As New Zealand law develops, the reasons for having a family trust change. Therefore, trusts which suited people in the past may not be right for them in the future. Talk to us and decide if a Family Trust is beneficial for you.