Our articles are an important source of information and commentary on matters that affect you.


Latest News

Description of this module

Specify Alternate Text

Family Trust - Still fit for purpose?

Published in December 2021

Family trusts were often set up to protect family assests from claims and creditors. Does your family trust still offer the same insurance against claims and does it still meet the purpose for which it was formed? 

Mason Lockhart talks to financial advisor, Darcy Ungaro, in his podcast NZ Everyday Investor about family trusts and the importance of regularily reviewing whether the trust is still fit for purpose.  Trusts have historically been set up for the reduction of tax liability, death duty avoidance, relationship property protection or estate planning purposes. These reasons may not longer be relevant or as strong an insurance against potential claims.   In this podcast Mason explains what a trust is and how it operates, the reasons for a trust and the codification of trustee duties under the new Trusts Act 2019. Click here to listen to the podcast Family Trusts - What's the Point?

For further queries about whether your trust is for purpose and to review whether it meets the requirements of the Trusts Act 2019 please contact Lockhart Legal.

Comments are closed.

Need expert advice?

Get in touch for an initial telephone consultation.

Get in Touch

Epsom Office

Takapuna Office