Make sure your family trust stands up to scrutiny. The Sunday Star Times recently published an article about Do-It-Yourself family trusts and how failure to manage them correctly can put the integrity of a trust at risk.
Here are three useful updates about topics covered in previous articles: using your Kiwisaver funds to buy your first home, buying homes in a multi offer scenario, and grants for insulation for rental properties. These are particularly relevant if you’re buying your first home, selling a property in a buoyant market, or a landlord.
When buying property it is important to consider the type of ownership that is appropriate for your particular circumstances.
If there is no formal agreement co-owners of real estate sometimes find themselves in dispute on a variety of issues relating to their joint venture property.
Income earned by a trust can be either retained by the trust or it can be distributed to the trust’s beneficiaries.
The present economic downturn has thrown up the problem of what to do when a settlor and/or a trustee becomes bankrupt. This article looks at possible remedies for both situations.
In the last issue of Trust eSpeaking (September 2008), we discussed the scenario that often occurs when trustees provide funds to beneficiaries, for example, to help in the purchase of a house.