What business folk with trusts need to know

Fri, 02 Oct 2020

While incoming legislation has spurred a wind-up of trusts, industry experts say business owners with trusts should have different considerations than others.The Ministry of Justice estimates there are between 300,000 and 500,000 trusts in New Zealand. However, a change to trust law coming into force from January 2021 means for many the disadvantages of having a trust under the law might outweigh the benefits.Every situation is different, but business owners and directors will have different considerations than workers, lawyers say. Perpe...

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