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Wills and Family Trusts

If you are concerned about protecting your money, property and investments then you need to put in place some form of asset protection like a will or family trust. It may be prudent to have both.

Wills

Unless you have a Will, your assets will be distributed to family members according to New Zealand's law governing intestate estates - and the distribution may not be in accordance with your wishes.

 

When you have a Will prepared by Booth Law, you can have certainty that your concerns will be listened to. We also have systems for following up with you if there are changes to legislation that may affect your Will, and for maintaining contact with you so that your Will is kept current.

 

Talk to us first for advice about your Will.

 

 

Power of Attorney and Enduring Power of Attorney

A general Power of Attorney is an authority you give to someone to handle your property affairs while you are mentally capable. It is common, for instance, for this to be arranged if you are intending to travel overseas.

 

An Enduring Power of Attorney applies even if you cease to be mentally capable. There are two types of Enduring Power of Attorney:

  • Personal Care and Welfare
  • Property

 

An Enduirng Power of Attorney will usually arise when a person is concerned about how their affairs will be managed if they become mentally incapable.

 

Talk to us first for advice on the appropriate form of Power of Attorney for you.

 

 

Family Trusts

Putting your important assets into a Trust is normally made for a reason. These can include:

  • asset protection: if you are in business, your home and other significant assets are better protected if they are held in Trust.
  • protecting your assets from relationship break ups: assets held in a Trust are normally not treated as "relationship property" . 
  • providing for your children: assets held in Trust for your children are protected from claims by a child's partner, spouse or de facto. A Trust can also protect the assets from being sold or wasted where the children may not be sufficiently responsible to make good financial decisions.

 

Whatever your reason, we can help you decide if a Family Trust is right for you.

 

Talk to us first about developing a Trust Deed that provides the asset protection that you require and put in place a plan to manage your gifting.

 

Wills, Power of Attorney and Family Trusts

Call 04 384 8658 to talk to David