Trusts and family businesses form a significant percentage of New Zealand business structures.
Ensuring that your assets are protected and that your trustee obligations are met is very important. Being familiar with your own trust deeds, wills and powers of attorney is essential should anything unforeseen happen to you or a family member.
Running a family-business, particularly involving 2 or even 3 generations can be tricky. However, having open discussion facilitated by a professional can make all the difference . Succession planning should be part of every business, not just family-owned businesses. But sometimes it can fall into the "too hard basket" and we don't like to risk offending family members. However, failing to have those discussion at all can lead to a far worse outcome.
For all things relating to trusts and family businesses, let our team help your family succeed.