Is Your Family Trust Still Working for You?
Family trusts were once seen as the ultimate tool for asset protection. Many asset holders believed that by establishing a trust and transferring their assets into it, they could protect wealth from rest home care fees and reduce tax liabilities. However, the landscape has changed significantly. Changes in Gift Duty and Rest Home Care Subsidy Since gift duty was abolished in New Zealand, the amount that can be gifted to a family trust without being considered a deprivation of