01 August 2021
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Setting up a trust and administering it well can help you to protect your wealth and assets. This can keep your wealth secure if you are in business, or for future generations. Trusts are commonplace in New Zealand, and in part due to recent law changes regarding trusts, you may be uncertain as to whether it is still useful to have or continue with a trust.
The team at Young Hunter are experienced with all types of trust law and can work with you to develop the right trust arrangements for your situation. We develop strong, lasting relationships with our clients, and will take a thoughtful, careful approach to organising your affairs. We advise on:-
Trust formation and other ownership structures available
Reviewing and advising on Trust Deeds
The Trusts Act 2019 - Trustees’ disclosure requirements and other obligations
Ongoing administration of trusts, including gifting
Retiring and Appointing Trustees and Beneficiaries and Varying a Trust
Winding up and distributing a Trust.
We can also assist if there is a dispute regarding your trust.
We are skilled at advising and preparing Trust Deeds which reflect the current environment and can be relied upon for generations to come. Young Hunter’s team also take a holistic approach, and can advise you on other ownership structures that may better suit your situation if the use of a trust will not achieve your goals.
Trust Deeds come in all shapes and sizes! Our team have experience with a wide variety of Trust Deeds and can help you determine whether your trust remains current and suitable by unravelling and explaining the legalese.
The Trusts Act 2019 has led to many changes which impact both trustees and beneficiaries. One of the most important changes is the need for trustees to disclosure certain information to the beneficiaries of the trust. We can assist you in navigating your obligations as a trustee.
We appreciate that situations can change and it can become necessary to make changes to a Trust Deed. This includes documenting the retirement and appointment of trustees, the addition or removal of beneficiaries, and other changes that may be required to ensure a Trust Deed is as up to date as possible. We are experienced at documenting such changes including the transfer of ownership of trust assets to new trustees when required.
When a trust is no longer necessary, we can help you wind it up and distribute its assets to Beneficiaries.
To discuss the benefits of a trust, or for advice about your existing trusts, contact one of our team today.Meet the team
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