Why form a trust? You have worked hard all your life to build up assets. You look forward to being able to enjoy the benefit of your hard work and being able to pass it on to future generations.  A family trust can help to ensure that the assets are kept safe, for you, and for future generations. The fruits of  your hard work may be at significant risk. Your assets could be lost or diminished for many reasons, including: Business failure. This is becoming more common as the economy deteriorates. Personal guarantees or the wrong business structure could mean that the business owner and their family loses everything. Assets correctly placed in a family trust are likely to be protected. Relationship failure can lead to expensive claims to 50% or more of property. Assets placed in trust may not be treated as relationship property and this may make a claim against them, in the event of a relationship break down, impossible. Some couples prefer to have their own individual family trusts to keep property matters clear.  Placing property in trust for your family members is likely to protect those assets from claim by their partners. Tax savings. Income arising  from a trust may be treated differently from income earned directly by you. The correct use of trusts and other entities will also help to prevent the capital gains tax that otherwise applies on the sale of some types of residential and other property. If you do not take advantage of the possibilities you are throwing money away. Rest home subsidies. Assets placed into trust early enough are likely to not be taken into account when calculating the rest home subsidy thus leaving more for you and your family members. It would be a tragedy if the fruits of your hard work were thrown away through no fault of your own. In order to lessen the chance of the government, creditors, or bitter ex partners benefiting at your expense, a family trust should be considered. It is best to set up a family trust as early as possible and before any problems arise. The setting up of a trust, and the transfer of assets to a trust, can be a straight forward process. Our philosophy is to make family trusts as accessible as possible. We offer one of the best rates for family trust formation in New Zealand at $990 (including GST).  We can assist you no matter where you are located.   Email: info@worklaw.co.nz or call  Auckland 5235284