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Trusts and Asset Protection 

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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 very sophisticated and flexible documents, but in essential terms they have changed little. The essence of a Trust is where someone holds assets for the benefit of others.

There are many reasons to establish a trust, 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 financial management of assets.

Downie Stewart is particularly strong in all aspects of asset protection and estate planning. 

Jeff Holloway leads our trusts and asset protection team.

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