The new Trusts Act came into effect on 30 January 2021 and if you’re a trustee or a beneficiary of a trust and haven’t reviewed your trust documents recently
Getting things in order
Although a will seems a simple document, in reality, drafting a will requires a sensitive understanding of individual needs and family dynamics. At times, the complex nature of families and asset protection may require the use of a family trust and other mechanisms, to ensure your wishes are carried out.
Asset management should also be considered with new relationships and handling business risk. In these circumstances, we can give insight and advice in developing robust succession and asset protection plans, designed to fit neatly into the ‘big picture’.
No matter what age or stage in life you’re in, our team is experienced in working with people from a range of backgrounds with varying life circumstances. Getting your life in order creates the opportunity to make thoughtful choices and gives those you care about the gift of certainty.
Things to consider
- Who will deal with your assets and liabilities when you die?
- Who will care for your children, if you aren’t here to do it?
- Is your online life accessible to your trustees?
- How do your debts get paid?
- Who will receive your assets, after your debts have been paid?
- What if you become incapacitated, who will be the decision maker?
- Is your trust being administered properly?