The New Trusts Act – Protecting your Assets
The New Trusts Act comes into force on 31 January 2021.
Tēnā koutou / Greetings to All
Firstly, why do we have Trusts?
A Trust is a good vessel for protecting your assets for your children. You can favour one Beneficiary over another which gives you greater flexibility than your Will. Your spouse and/or children can make a claim against your estate if you have not provided for them in your Will. It is more difficult to challenge the distribution of a discretionary Trust.