An Important Message About Family Trusts
For All New Zealanders Concerned About
Protecting Their Future
If you’re thinking about setting up a family trust in NZ or reviewing your existing family trust, then you really must read this entire message.
Here’s why: This could be the one website that just might give you the information you need that could stop you from losing everything.
But first things first…We can safely assume that you’ve landed on this website for one of three reasons:
- You already know the benefits of setting up a family trust. You know the basics of how a family trust works. You know that if it’s set up and managed properly, it can save money, time and tears - not just for you, but for future generations, and you’re ready to take the first step by talking to us. If that’s true, you should Request-a-Call right now for a no obligation chat.
- You are curious to understand more. You may have heard or read information about family trusts and are wondering how it all works, what it costs and how it applies to your situation. If that’s you, we suggest that you read this message in full, join our Newsletter Group to get free updates and Request-a-Call to have your questions answered.
- You’ve landed on this site and have nothing better to do with your time than read legal and accounting information like this…You must have an interesting life.
So let’s get started…
Family Trust Work: Why We Started FamilyTrusts.co.nz
Since 2005 our team at Gilligan Rowe + Associates has been conducting Family Trust Seminars across NZ for anyone interested in learning about how trusts work and their potential benefits. And since we’ve been ‘on the circuit’, we’ve quite literally helped and spoken face-to-face with thousands of Kiwi families.
Our journey so far has been amazing. It’s been hard work but it’s also our passion and our love…
Speaking to all kinds of people from all walks of life has truly given us a unique insight into how family trusts can really help people in a wide range of different circumstances.
And that’s the reason for setting up FamilyTrusts.co.nz. We wanted to provide all New Zealanders with access to the same information that’s benefited so many of our seminar attendees.
Of course, we hope to do business with you in the future, but our first goal is to educate and help you to understand this whole subject of family trusts a bit better. We figure that if we do this openly and without expectation, eventually some of the visitors to this site will feel comfortable about taking the first step to talk with us. Maybe even you.
Put simply, we want to prove that we can earn your trust (no pun intended) by giving you free access to credible, accurate and timely information. It includes information about the potential pitfalls that must be properly dealt with when setting up a family trust.
How Can a Family Trust Help You?
Family trusts are like an insurance policy. Among other benefits, they are designed to protect you from an adverse event, if and when one happens.
It’s obvious that we don’t know what those ‘events’ could be for you. We hope they never occur…They may never happen and if they do, the effects may only be minor. On the other hand, one could be so devastating to you, your family and your life, that it could have a permanent affect on you, your assets, your cash-flow, your happiness, and the people you love.
Please understand, it’s not our intention to scare anyone. But as pragmatic professionals who deal with New Zealanders’ financial affairs and assets on a daily basis, we get to see the extreme and often horrendous results that come with NOT BEING PREPARED. Besides, if one of these events does occur to you, the last thing you’d want to do is worry about whether your financial future was protected – Right?
Are family trusts exciting? Some accountants may find them terrifically fascinating, but for the majority of New Zealanders…no not really.
Are they important? Yes, absolutely.
Owning a business, owning some property, planning your estate for future generations, or owning investments and NOT seeking professional Trust advice is a bit like jumping out of an airplane before checking to see if the parachute is strapped on…It’s crazy.
People set up family trusts in NZ for a number of reasons that include:
- Protection against professional liability claims
- Safeguarding your assets from financial disaster
- To gain tax advantages (in certain circumstances)
- Preparing for possible capital gains or death taxes
- Maintaining confidentiality about your financial affairs
- Preparing for the time you might need residential care planning
- Protection of assets against unexpected business debts
- Reducing the chance of relationship property claims by future partners
- Providing for your family even after you’re gone, as a mechanism for estate planning
IMPORTANT QUESTION: ARE ANY OF THE REASONS
ABOVE RELEVANT TO YOUR SITUATION?
What’s Your Plan B?
It frustrates the heck out of us… Why are people happy to plan for success but not for failure? It’s true if you think about it. We set goals to start or change careers, buy property, or start new businesses. Some people create meticulously detailed plans which they can implement that will (hopefully) lead to their success.
We also spend huge sums of money and hundreds of hours on books, education, training, seminars, and mentors to help us feel successful. And all the while, measures to safeguard ourselves in case of failure hardly get a mention.
Why is that? We’re unsure. Part of it is probably plain ignorance and the other part is just human nature we guess. The thing is, even though people know about the value of protecting their assets, some still choose to do nothing. Until it’s too late…
Properly setting up and managing a family trust, is like your own personal PLAN B. The only difference is that the cost of planning for failure is way lower than the cost of planning to succeed…or the cost of doing nothing.
Taking the first step to protecting yourself and your future is all it takes. Waiting until the liquidator is appointed, or until after the death of your spouse (or whatever), is never the right time to seek advice.
Gilligan Rowe + Associates & Family Trusts
Thanks to the internet, if you have the time, you can find out almost anything to do with anything when it comes to Family Trusts in New Zealand. The amount of information available (including misinformation) is staggering…and potentially dangerous.
In fact, it’s one of the reasons we offer a Family Trust Rescue Service to help people fix their ‘Sham’ Trusts and regain the protection they initially thought they had. But that’s another story…
At the heart of it all, we’re are chartered accountants. We’ve been doing it successfully since 1992. From individuals to large organisations, we provide a full range of professional services.
We know what you’re thinking… “Who cares? Every other chartered accountant says the same thing!”
But read on and to discover the two reasons why we truly are different and why we deliver the very best and cost-effective VALUE to anyone seeking asset protection in New Zealand.
- Because we’re established and innovative market leaders, we’re well known in our industry. This means that as our client, you know you’ll be in trusted professional hands.We, (Matthew Gilligan & Janet Xuccoa) are sought-after speakers, commentators and contributors on financial services and legal matters. We’re often called on by various groups to make sense of financial issues that affect the lives of New Zealanders.
- Because we offer an ‘integrated’ approach we break the traditional mould of accounting firms and business advisors. It’s not just a matter of setting up a family trust and dumping all your property into it. You need to go further, and analyse the risk management, estate planning and taxation issues at the same time.We have the right people with the right expertise and experience, all in-house. Our ‘one- stop-shop’ approach saves you time, money and stress.Yes, anyone can sell you a parachute (even online)…but at Gilligan Rowe + Associates, we actually check for holes!
Our final message is simple. Family trusts that we’ve set up and currently manage have solved big problems for our clients…But we’re NOT passionate about family trusts! We’re passionate about how our work has helped thousands of Kiwis sleep better at night.
We hope we can do the same for you.
To your success,
Janet Xuccoa BCom LLB
Family Trust Family Trusts