Fix My Trust Update

“Fix My Trust” is a new initiative by Davenports Harbour, aimed at providing people with quick, practical solutions to fixing up their family trusts.  It is estimated that there are over [300,000] trusts in New Zealand, and that over 75% of these trusts could be successfully challenged.  Trusts are a fantastic structure for providing a vehicle for ownership, control and management of property.  Trusts also provide protection against family and relationship property claims.  However, in order for trusts to work, they must be set up and maintained properly.  

“Fix My Trust” is especially important this year, because the biggest change in Trust Law in 120 years is about to take place.  From 1 October 2011, New Zealanders will now be able to gift everything into a trust, regardless of amount, without having to pay gift duty.  Previously, any gift to the trust of over $27,000 attracted gift duty tax.  However, this window of opportunity may not last,  as a new government may reintroduce gift duty .  So the time to act is now!

We offer a free one-hour consultation with our Trusts experts so we can get to know you and any particular issues that relate to your circumstances.  “Fix My Trust” will provide you with peace of mind, a strategy going forward, and a supportive team of experts who will help get you and your trust back on track.

Please call one of our trust experts today for a free, no-obligations consultation.