The use of a discretionary family trust is a popular way for New Zealanders to manage and protect their assets.
We can provide advice on the number of possible advantages of establishing a trust (such as creditor protection, relationship property protection, asset management and potential tax advantages), and on the possible disadvantages (such as a loss of control of your assets and increased administration costs). We can also assist with the formation and governance of a trust and provide advice to potential trustees and beneficiaries on their rights and obligations.
In order to ensure that when you die what you own goes to those that you wish, you should prepare a Will.
If you die without a Will, then your assets would be distributed in accordance with the Administration Act 1969, which may leave your estate to people that you did not wish to provide for, and exclude others who you did. In addition, if you die without a Will, the costs of administering the estate will likely be higher and there may be delays in distributing your assets to the beneficiaries.
We strongly believe that every person over 18 years should prepare a Will, and to help achieve this we provide a simple straight forward Wills service.
We can assist in the administration of your estate (or a family member’s estate) following death.
This would include making an application to the High Court for probate (so that your last Will is approved for administration), assisting the executors in collecting the assets, paying off any debts and funeral expenses, and distributing the estate to the beneficiaries. We can also assist with any legal issues that the executors might encounter when administrating your estate.
You may find yourself in the situation one day where you are unable to manage your property affairs by yourself, for example if you lose mental capability or become incapacitated.
Enduring Powers of Attorney allow you to appoint someone else to act in your place with regards to your property and your personal care and welfare. We can provide advice on the different types of Enduring Powers of Attorney and your options when appointing an attorney, and prepare the documentation and arrange for its execution.