The Trusts Act 2019 (the Act) took effect on 30 January 2021, bringing with it amendments to the law governing trusts for the first time in more than 70 years and applies to existing trusts as well as those yet to be drafted. If you are a trustee, a beneficiary of a trust or contemplating setting up a trust, McVeagh Fleming can help.
Traditionally trusts are designed to protect property and manage assets. They require close management by trustees, who have increased obligations under the new Act – including keeping good records. McVeagh Fleming’s trust services can help you with:
- Protecting assets for family benefit
- Transferring wealth to the next generation
- Retention of assets, like a family business, when one or more members becomes ill or cannot work
- Protection from relationship property claims or contested wills
- Looking after the assets of somebody who is no longer able to act on their own behalf
- Changing tax liabilities
- Estate administration through the transfer of assets to a trust before death.
Family Trusts Administration
- Family Trusts Administration
- Formation and administration of family trusts
- Business trusts
- Charitable trusts
- Special purpose trusts
- Estate and retirement planning
- Asset management.