Trusts

Family Trust Lawyers in Christchurch

Helping You Protect What Matters Most

A family trust can be an effective way to protect assets, provide for future generations and support your wider estate planning. However, a family trust isn’t the right solution for everyone.

At Pier Law, we take the time to understand your circumstances before recommending whether a trust is appropriate. Whether you’re considering establishing a new family trust, reviewing an existing one, or need advice as a trustee, our experienced trust lawyers are here to guide you every step of the way.

With offices in Northwood, New Brighton and Kaiapoi, we provide practical, straightforward advice to clients throughout Christchurch and North Canterbury. Get in touch with us today.

What is a family trust?

A family trust is a legal arrangement created by a Trust Deed to hold and manage assets for the benefit of selected beneficiaries.

Although a trust is often given its own name and is commonly referred to as though it were a separate entity, it is not a separate legal person. Instead, trustees are appointed to own and manage the trust’s assets on behalf of its beneficiaries.

Once assets have been transferred into a family trust, they become trust property and should be managed separately from your personal assets.

Every family’s circumstances are different, which is why obtaining legal advice before establishing a trust is important.

Who is involved in a family trust?

Every family trust involves several key people, each with their own role and responsibilities. These include settlors, trustees, and beneficiaries.

Settlors

The settlor is the person who establishes the trust by providing money, property or other assets to be held by the trust.

Trustees

Trustees are responsible for managing the trust and become the legal owners of the trust property.

Their role includes:

managing trust assets;
acting in accordance with the Trust Deed;
making decisions in the best interests of the beneficiaries; and
complying with their legal obligations as trustees.

Because trustees have significant responsibilities, they should be people you trust and who understand the importance of their role.

In many situations, an independent trustee is recommended. This may be a trusted family friend, accountant, or, in some circumstances, a trustee company appointed by Pier Law.

Beneficiaries

Beneficiaries are the people who may benefit from the trust. This commonly includes the settlors, their children, grandchildren and other nominated family members.

Beneficiaries may receive distributions from the trust during its lifetime, or they may receive trust assets when the trust eventually comes to an end.

Is a family trust right for you?

Family trusts have changed significantly over recent years.

While they were once a common part of many people’s estate planning, changes in legislation and best practice mean they are no longer a one-size-fits-all solution. Establishing and maintaining a trust involves ongoing responsibilities and administration, so it’s important to understand whether a trust will genuinely benefit you.

A family trust may be appropriate if you:

1. Own a Business or Are Self-Employed

If you operate a business or work for yourself, a trust may assist with protecting your personal assets should your business experience financial difficulties. We work alongside your accountant to ensure your trust is established and managed in accordance with best practice.

2. Are Entering a New Relationship

If you’re bringing significant assets into a new relationship, a family trust, together with a Contracting Out Agreement, may help protect those assets and preserve them for your own children if the relationship later ends.

3. Want to Protect Your Children’s Future

Some families choose to use a trust as part of their estate planning to help protect an inheritance or ensure assets are managed appropriately for future generations.

4. Have Beneficiaries Who May Need Support

A trust can provide a way for trustees to manage assets on behalf of beneficiaries who may require assistance managing an inheritance themselves.

Every situation is unique. Our team can help you determine whether a family trust is the right option for your circumstances.

Our Family Trust Services

We can assist with every stage of your family’s trust journey, including:

Establishing new family trusts
Reviewing existing trusts
Trust administration advice
Trustee advice and guidance
Transferring assets into a trust
Trust transactions
Appointing or retiring trustees
Trust wind-ups

Whether you’re establishing a trust for the first time or have had one for many years, we’re here to provide practical advice tailored to your goals.

Chat with our team today!

Already Have a Family Trust?

Many trusts were established years ago, and your circumstances may have changed since then.

A trust that was appropriate when it was first created may no longer reflect your family’s needs or achieve the purpose it was originally intended for. Trustees also have ongoing obligations, including maintaining records, documenting important decisions and meeting disclosure requirements.

If your trust hasn’t been reviewed for some time, we can help you understand whether it still meets your objectives and ensure you’re meeting your responsibilities as a trustee.

Book a review today

Download our free guide on Family Trusts!

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Frequently Asked Questions

What is a family trust?

A family trust is a legal arrangement where trustees hold and manage assets for the benefit of nominated beneficiaries. It is created by a Trust Deed and is commonly used as part of estate planning and asset protection.

Who is involved in a family trust?

A family trust generally involves settlors, trustees and beneficiaries, each with their own role in establishing, managing or benefiting from the trust.

Who owns the assets in a family trust?

Once assets are transferred into a family trust, they become trust property and are legally owned by the trustees, who manage them for the benefit of the beneficiaries.

Who can be a trustee?

Trustees are usually the settlors themselves together with an independent trustee. Trustees should be people who understand their responsibilities and are able to manage the trust in accordance with the Trust Deed.

What does an independent trustee do?

An independent trustee helps ensure the trust is administered appropriately and may assist with demonstrating that the trust is being managed independently. In some circumstances, Pier Law may appoint a trustee company to act as an independent trustee.

What assets can be transferred into a family trust?

Depending on your circumstances, money, property and other assets may be transferred into a family trust. Our team can advise on the most appropriate way to structure these transfers.

Should I review my existing family trust?

If your trust was established several years ago or your circumstances have changed, it's worth reviewing whether the trust still achieves its intended purpose and whether you're meeting your obligations as a trustee.

Can Pier Law help with an existing trust?

Absolutely! We can review existing trusts, provide trustee advice, assist with trust administration and advise on trust transactions and changes to trustees.