Family trusts have been quite a hit for owning assets and running businesses in New Zealand.
People set up trusts for various reasons like tax perks, shielding assets from future creditors, or breakups, safeguarding assets for a particular family branch, and safeguarding generational wealth. The trust, managed by the trustees, can handle pretty much any approved business activity as per the trust deed, just like any other business.
Trusts differ, though. While they work well for some, they might not suit everyone. If you’re pondering over setting up a trust or already in one and reevaluating, there are things to think about. Think taxes and what you disclose to the taxman and beneficiaries. If you’re a trustee, your job isn’t a walk in the park, but it sure comes with legal duties. We can help you figure out if a family trust aligns with your goals, and we can guide you through the paperwork and admin stuff.
For more information, download the Family Trusts Guide
