Family Trust Management - Protect and Manage Your Assets

Secure Your Family’s Legacy and Financial Stability with Comprehensive Family Trust Management

Exploring or revising a family trust is a significantpe step towards safeguarding your legacy, and our expertise in family trusts is unparalleled. Wondering how a family trust can fortify your future?

Book a consultation with our Auckland based team

Consider a family trust akin to a resilient safeguard. These trusts are meticulously crafted for asset protection and risk mitigation, ready to act as a bulwark against unforeseen calamities.

The nature of these potential challenges is uncertain. Our wish is for them to remain unrealized. However, should such a situation arise, its impact could range from negligible to catastrophically altering your family’s well-being, asset security, financial flow, contentment, and the welfare of your loved ones.

Our goal isn’t to alarm, but as experienced specialists in trust administration and estate planning for New Zealanders, we’ve witnessed the severe repercussions of unpreparedness. In the event of a crisis, ensuring the protection of your financial future should be the least of your concerns, correct?

While the intricacies of family trusts might captivate some accountants, for most New Zealanders, they represent a crucial yet understated component of wealth management, estate planning and intergenerational wealth transfer. A family trust serves as a legal entity, a fiduciary arrangement where a trustee holds and manages assets, often in a revocable or irrevocable trust fund, for the benefit of designated beneficiaries. It’s a strategic approach to inheritance, probate avoidance, tax planning, and ensuring financial security. The trust agreement outlines the settlor’s wishes, guiding the trustee in asset protection and wealth transfer, thereby preserving your family’s financial legacy through effective trust administration.

Types of Family Trusts in NZ

At Business Like we specialize in providing comprehensive advice and implementation services for various types of trusts, with a particular focus on family trusts. Our expertise is centered on understanding and catering to the unique financial goals and long-term aspirations of our clients.

We recognize the importance of planning when establishing a trust. Our approach is to delve deep into our clients’ long-term objectives, ensuring that the trust set up is not merely a legal entity but a powerful tool for future asset management and scenario planning.

Expanded Overview of Trust Types:

1. Family Trust Management:

  • Asset Protection: Family trusts are designed to safeguard assets from liabilities and creditors, ensuring your wealth remains within the family.
  • Intergenerational Wealth Transfer: Our focus is on smooth and tax-efficient transfer of wealth to future generations, along with guidance on managing inheritance effectively to sustain the family’s legacy.

2. Single Trust Solutions:

  • Focused Asset Management: Ideal for managing a specific asset, like a family business or real estate, ensuring its protection and growth.
  • Individual Beneficiary Provision: Whether it’s providing for a child’s education or a family member’s healthcare, we create a trust solution that addresses these individual requirements efficiently.

3. NextGen Trusts (Inheritance):

  •  Wealth Preservation for Future Generations: Trusts are structured to protect the family wealth from erosion due to taxes, mismanagement, or external claims.
  • Focus on Beneficiaries’ Welfare: Provisions for education, healthcare, and other welfare needs, ensuring the younger generations are well-supported and financially secure.

4. Business Trust Services:

  • Asset Management for Business: Trusts that hold and manage business assets, protecting them from personal liabilities and ensuring their continued operation.
  • Succession Planning: Our services include planning for a smooth transition of business leadership and ownership, which is crucial for long-term business continuity and success.

Each of these trust types are designed to meet specific needs and objectives, ensuring that our clients’ wealth is managed, protected, and transferred according to their precise wishes. We are committed to providing tailored trust accounting services that align with your specific requirements and aspirations. Our team of experts ensures that your trust structure is not only tax sound but also optimally positioned to serve your family’s needs today and in the future.

Let us guide you in making informed decisions about your family trusts tax structure, helping you to secure your legacy and provide for your loved ones effectively.

 

Professional Accounting Specialists in Manukau and South Auckland

At Business Like, we embrace a philosophy that accounting is not merely about crunching numbers; it’s a journey that empowers you to lead the life you desire. Our approach transcends traditional accounting, viewing your business as an evolving adventure, rich with potential. Our team of expert accountants offers personalized service, guiding you through the financial landscape with clear, jargon-free advice. We’re committed to helping you understand and navigate the complexities of finance, ensuring that your business decisions are informed and strategic, all aimed at fostering the success and growth of your business.

Brendan Price – Partner

I started working at Business Like in late 2013 and appointed partner in 2017.  I work with a wide range of clients in trades, manufacturing, technology, financial services as well as high net worth individuals. I’m passionate about helping business owners achieve their business and related goals.  A keen fisherman and brewer, I love a beer in the weekends after a day with my young family.

I have a Bachelor of Business Studies with majors in Accounting and Marketing.  I’m a Chartered Accountant and holds a current certificate of public practice.


Rachel Darlington – Partner

I began my accounting career in the corporate arena working for a merchant banking firm for approximately ten years. I joined Business Like in February 2008. In 2009 Rachel Lamb and I joined forces to create Business Like NZ Ltd. In 2014, I teamed up with Brendan Price and have continued to grow Business Like NZ Limited. I have a farm in Ardmore where most weekends I’m tending to the land or my ever-growing menagerie of animals.

I am a Chartered Accountant and hold a current certificate of public practice. My qualifications include a Bachelor of Commerce and a postgraduate diploma in Professional Accounting.


Vinh Nguyen – Partner

With over 15 years of experience working in CA Firms, I bring a wealth of knowledge and expertise in the areas of business advisory, compliance and taxation.  As an experienced client manager, my focus is on fostering and maintaining strong client relationships.  I have two children and enjoy travelling and going to live music events.

I’m a Chartered Accountant (CA) with a Bachelor of Commerce, majoring in Accounting and Commercial Law.