Setting up a Trust can provide a robust way of protecting assets.
In addition to setting up your trust we are able to...
Planning ahead to protect and keep assets for oneself, family, specified people or organisations or to hold assets in a manner that is more advantageous for them or the family as a whole requires careful planning and making a fully informed decision.
The use of Trusts in New Zealand has been a popular method of meeting the above requirements however a Trust is not suitable or practical for everyone.
Some occupations are particularly vulnerable, especially those of the business or professional person who is unable to limit personal and professional liability. and who may be held professionally liable through no direct negligence or shortcoming of his or her own. For many people including for example those in business, those guaranteeing a child’s business debts, or those contemplating a new relationship who have assets they wish to ensure goes to children from an earlier relationship, there are distinct disadvantages to personal ownership, as this makes them vulnerable to claimants or predators, merely by virtue of asset ownership.
Setting up a Trust can provide a robust way of protecting assets. That’s where Norrie & Daughters can help you. Careful tax and estate planning can reduce legal and tax complexities with their associated costs that might arise at a later date.
Norrie & Daughters can assist with specialist advice on trust formation, to ensure you meet all statutory requirements and can assist with trust administration if required. Since there are legal as well as tax and financial considerations, we may recommend a consultation with your solicitor as well as advice from us.
You will find the answers to probably most of your questions about Trusts in NZ booklet
Our services include: