With our cars, we know that we need to keep them properly checked and serviced. Sometimes the engine needs a tweak so we can be confident about getting where we want. There’s nothing worse than a break down or, as happened to me recently, a flat tyre. It mucks up your day and you miss important meetings.
The assets in your family trust are probably worth a lot more than your car but how often do you get the specialist to look under the hood and give the engine a check or a tweak?
The rules around family trusts are continually evolving and this makes it hard for most people to keep up. Some of these rules come from statute like the new Trusts Act or from the tax Acts. Some rules comes from what is thought as “best practice” by people who work with trusts all the time – such as lawyers and accountants; and rules about trusts also come from decided court cases, where determined litigants try to claim assets hidden in a trust. Keeping up with all the changes in these areas is difficult – and that’s why it is important to use a professional skilled in this area. You take your car for servicing to a skilled car mechanic, not to someone who mows lawns, for example!
At Godfreys Law we have skilled lawyers in our Life Law team who keep up-to-date with the ever changing world of trust law and they can help you with quick reviews or major revisions (eg a resettlement) as might be needed. We tailor our work to you and your trust – and we will only do what is necessary, not just what is fashionable!
