There are a number of common assumptions made about access to a person’s Will and what happens after the Will-maker has died.
‘Reading of the Will’ Continue reading
Following the abolition of gift duty on 1 October, we publish a special edition of Fineprint here.
You may be considering whether to complete your gifting programme in one fell swoop – or perhaps not.
Everyone has their own reasons for establishing a trust, and your own individual situation will be unique to you and your family. Completing your gifting programme in its entirety may not be the best step for you.
Do get in touch with us so we can talk about the best path forward for you and your particular circumstances.
We publish the latest edition of Trust eSpeaking here.
In this edition:
- Let’s give it all way – It’s not that straightforward
With the abolition of gift duty from 1 October 2011 the first thought for most people who have a family trust would be “Let’s give it all away” - Rest home care – Don’t expect government hand-outs
After gift duty comes to an end from 1 October, one thing will still be clear: you can’t give everything away to a trust and then expect to rely on state assistance because you don’t own any assets… - Trustee Liability – As vendor under an Agreement for Sale & Purchase Trustees are the legal owners of trust property and are personally liable for warranties given under an Agreement for Sale & Purchase. Trustees should be very careful about giving warranties
- Trusts and tax – The Supreme Court has spoken Using a trust – or any other structure such as a company – to reduce your income is
not straightforward. If you push the boundaries too hard you may end up having to pay a lot more. The latest Supreme Court decision provides a useful warning
The latest EJ update is available here.
In this issue:
- Trust review
- A commercial property opportunity in Te Awamutu
- New debt recovery service
- Update on gift duty changes
- Stay informed with email alerts from the Edmonds Judd website
If you wish to discuss anything in the EJ update please don’t hesitate to contact us.
Edmonds Judd will be closed for the holiday period from 12:00 pm on Thursday, 23rd December 2010. The office will reopen on Monday 10th January 2011 with a skeleton staff between the hours of 9:00am and 3:00pm. A full complement of staff will be available from 8.30am Wednesday, 19th January 2011.
Have a merry and safe holiday!