Asset Management & Protection
Trusts have been a part of the legal and social framework for 1,000 years, and are now more popular and numerous than ever before. Modern trust deeds are sophisticated and flexible documents, but essential trust obligations have changed little.
What is a Trust? The essence of a Trust is where someone holds assets for the benefit of others typically family. We are experts in all matters relating to setting up trusts.
There are many reasons for establishing family trusts, including:
- Protection of assets from the imposition of rest home fees and/or long term hospital costs
- Protection from creditors (especially important for people in business)
- Protection from relationship property claims
- Ensuring family assets end up with the next generation as intended
- Protection against the possible introduction of inheritance duties
- Tax minimisation
The typical estate planning exercise is closely linked with correctly drafted Wills, Enduring Powers of Attorney and arrangements for the financial management of assets.