by Munro Benge | Sep 6, 2018 | Trusts
Do you have a family trust? Thinking of forming one as a way to future-proof your assets for you and your children? Take note – the Trustee Act is getting a makeover. While there are still a few parliamentary hurdles to jump, now’s the time to get your head...
by Munro Benge | Sep 6, 2018 | Trusts
Up until now, a trustee’s job description has been clear as mud with many families getting into strife unaware of their trustee’s responsibilities. If the new bill comes into place, a trustee’s role will be clearly outlined, and include: Knowing the terms of the trust...
by Munro Benge | Sep 6, 2018 | Trusts
#1 Extending perpetuity laws At the moment, when you set up a family trust, it has a time limit of 80 years. Then you have to wrap it up and distribute the assets. The new legislation suggests extending it to 125 years, which may involve significant succession...
by Munro Benge | Sep 6, 2018 | Trusts
Whether you’re thinking of becoming a trustee for your own family trust or someone else’s, it’s important to know your obligations under the current law before accepting the role. 8 things to know before becoming a trustee It’s a legal responsibility with a lot of...
by Munro Benge | Sep 6, 2018 | Trusts
Family trusts are a popular way to protect and manage your assets, such as the family home, for you and your family, now and in the future. They can have a valuable role to play, but they’re not suitable for everyone. Here are the pros and cons of family trusts to...
by Munro Benge | Sep 6, 2018 | Trusts
Get your paperwork in order: Document your trust actions carefully (if you don’t already) and make sure they’re accurate. Revisit your succession planning: Talk to us to make sure your succession plans still make sense if this legislation goes through. Review your...
