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You've worked hard to earn what you have

Even if you haven't, it's still yours. You are free to spend your money as you please, and you are entitled to protect your assets with the best protection money can buy. You are the perfect candidate for a family home trust to keep your home in the family, and away from legal action and unwanted claims. The question is not "Why protect family interests?" That one's a no-brainer. Instead, the question is "Why not protect family interests in the safest way?"

How a Family Trust protects your interests

Let's say you've set your assets aside in a family trust. If your business fails, creditors cannot touch the assets because they don't belong to you. They belong to the family trust. That's great news for mums and dads wanting to leave their children inheritances, because those assets are virtually untouchable by anyone, excepting the beneficiaries at specified times or milestones of the trust.

Keeps it in the family

The sad truth is that there are unscrupulous people lurking out there, and a family trust protects your loved ones against con artists, gold diggers, and even internet fraud. Primarily, all assets protected by the trust are guaranteed to benefit your children and grandchildren, not their partners. If you bequeath an inheritance to one of your children in a will, there is nothing stopping a money-hungry spouse from taking possession of the lion's share of that windfall, particularly in New Zealand, where there is a 50-50 presumption of ownership of relationship property when the relationship ends. With your child's inheritance safely in a family trust, no one else can touch it.

Keeps it very specific

It's another fact of life that the best of intentions, as spelled out in a final will and testament, are often buried along with the deceased. It may take years of probate before the will is settled and the assets are available, all subject to the interpretation of a judge who may not even know you or your family. With a family trust established, your wishes are carried out by your trustees, a select group of your closest family members who have your best interests in mind. After all, they are your best interests. For example, you could specify that the grandchild who achieves the highest academic standing be gifted with a car, or that the first to marry gets your grandmother's solid gold serving set.

Whatever is important to you is important to your trustees. Indeed, a family trust is the best way to protect your loved ones. And once it is set up, it will keep your family assets safely within the family as long as there are assets to share.

To find out more about setting up a family home trust and register with TrustUs today.

Its in your hands.