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Trust and Asset Planning

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Wills

The question often asked is: "Why should I make a Will"?

A carefully prepared Will can ensure that after your death, your assets will be distributed in accordance with your wishes and to the people of your choice. Regardless of your financial position you should make a Will. A Will provides the means for you to direct who is to take charge of your affairs and see that your wishes are properly carried out. Making a Will helps you consider what the needs may be of people who depend on you for their security in life.

Why Caudwells?

We can:

  • Give you appropriate guidance on how you can fairly provide for those who depend on you.
  • Ensure the legality of your wishes.
  • Offer options and solutions that will suit your particular needs.
  • Provide you with complete confidentiality.
  • Give you access to a comprehensive range of legal services you could either require now or in the future.
  • ... and usually for free.

Contact:

Dunedin:

Warwick Deuchrass Frazer Barton Joseph Butler
Clare Malthus Jenny Beck Ray Monson

Christchurch:

Peter Richardson Roger Sandford

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Enduring Power of Attorney

We would strongly recommend in reviewing your affairs that you should give consideration to the preparation and completion of Enduring Powers of Attorney relating to your property and personal affairs.

This is of particular importance for people of retirement age and older.

Usually an Enduring Power of Attorney only operates in circumstances where an individual through old age, illness or infirmity is no longer able to make decisions on his/her own behalf relating to property and personal matters.

Such powers of attorney normally appoint a family member to make decisions on your behalf when you are not able to readily make these decisions yourself because of incapacity, infirmity or possibly you may be travelling overseas and have a need for someone trustworthy to represent your interests whilst you are not able to do so yourself.

Such powers of attorney can be held with your personal papers such as your Will so as to be readily accessible should it be needed at any time.

Having these documents in place ensures the smooth transition in the management of your personal and financial affairs by a person of your own choice in the event of a sudden and incapacitating illness or other event that prevents you from dealing with your personal matters yourself.

Contact:

Dunedin:

Warwick Deuchrass Frazer Barton Joseph Butler
Clare Malthus Jenny Beck Ray Monson

Christchurch:

Peter Richardson Roger Sandford

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Estate Administration

Caudwells offer a complete and comprehensive service for the administration of Estates. We also recognise the need for a caring and compassionate approach when dealing with family following the death of a loved one. Whether the deceased has a Will or not Caudwells will be able to:-

  • Undertake all Court formalities in the form of a Probate application or application for the appointment of an Administrator where there is no Will (an intestacy).
  • Provide a proper accounting of all Estate transactions.
  • Provide timely reporting to beneficiaries on the progress and administration of an Estate.
  • Prepare tax returns.
  • Finalise distributions to beneficiaries and settlement of bequests.
  • Generally attend to all matters necessary to complete the timely administration of Estates.

Caudwells have available within their offices a comprehensive range of professional legal services to meet any situation that may arise during the course of the administration of an Estate.

Please feel free to contact us to discuss these services at any time.

Contact:
Ray Monson

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Trusts

Should I or shouldn’t I have a family trust?

At Caudwells, that is a question we get asked a lot, and we are familiar with the issues that need to be considered before this decision can be made. There are reasons why it may suit certain people’s circumstances, but there are also other reasons why not. It may be appropriate if you are concerned about protecting certain property for future generations, or are concerned about your family’s security, but it pays to discuss your circumstances with us.

The creation of trusts is a specialised area, which can be subject to change. If you are unfamiliar with this area, it may be helpful to have some background information. Some of the key terms involved with trusts, described in a simple way, are:

 

the Settlor is the person who establishes the trust
the Trust Deed is the written document which sets out the terms of the trust set up by the Settlor. This is generally a reasonably lengthy document to allow the trust to take advantage of a variety of different circumstances which may occur over the lifetime of the trust
the Trustee or Trustees are the person or persons who are charged with holding the trust property on behalf of the beneficiaries. They are bound by the terms of the Trustee Act 1956 and the terms of the trust deed itself.
the Trust Property is the property owned by the trust. Generally at the start this will be a nominal sum put forward by the settlor, but then the trust may acquire other property in many forms. These may include real estate, shares, cash investments, livestock, art, etc etc. The nature of the trust property may change several times during the lifetime of the trust.
the Beneficiaries are the persons who the settlor intends will benefit from the trust. They can include, by way of example, close family members or friends of the settlor, unborn children, charitable or educational institutions, or organisations related to the settlor.

 

If you would like more specific information, or would like to make an appointment to discuss trust planning options for you, please contact:

In Dunedin:

Warwick Deuchrass

Clare Malthus

Clair Elder

Ray Monson

In Christchurch:

Peter Richardson

Roger Sandford

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Asset Planning

Many of our clients have concerns about protecting certain family assets for their off-spring, or wonder whether the nature of their business and trading activities may jeopardise the security they want for their family. Careful asset planning, and the use of appropriate business structures, can help to minimise these concerns.

A careful assessment needs to be done of individual circumstances before we can advise you of the best approach for you, but the key word in this area is definitely planning. While its never too early to start thinking of what may lie ahead, unfortunately we do find sometimes that it is too late to put in place effective planning tools.

If you have concerns, or want to find our more information, please contact:

In Dunedin:

Warwick Deuchrass

Clare Malthus

Clair Elder

Ray Monson

In Christchurch:

Peter Richardson

Roger Sandford

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Succession Planning

Succession Planning can mean different things in different circumstances.

It could be:

  • a mother and father trying to decide how best to divide the family farm amongst their four children; or
  • a retired couple thinking of distributing some of their wealth to family members during their lifetimes; or
  • a business owner seeking to identify how to carefully introduce her children into the business she has built up over many years; or
  • a majority shareholder working on a deal to allow key employees of his company to become involved as shareholders and managers of part or all of his business;
  • a business owner looking to retire from the business pressures but wanting to retain an effective income stream in the immediate future.

To be able to effectively meet the interests of all the parties involved in negotiations such as these, takes skill and experience. And that’s what our commercial team has to offer. If you would like the opportunity to discuss your circumstances with one of our legal team, contact:

In Dunedin:

Warwick Deuchrass

Clare Malthus

Clair Elder

In Christchurch:

Peter Richardson

Roger Sandford

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