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Online CPD Module l Electronic booklet l PowerPoint Presentation
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Effective protection of your clients’ assets requires a real understanding of the issues and risks they may face. This seminar will cover several asset protection options together with various tools to use when advising clients on how to best protect their assets.
The seminar will also cover potential complications involving asset protection (such as blended families or existing complicated ownership structures) and some suggested solutions to combat such complications.
This seminar will include:
By completing this module you will gain:
Authors: Alison Gilbert, Paula Keuning
Published: 28 November 2019
Pages: 16
The aim of this paper is to provide some practical guidelines on advising clients around the area of asset protection. It also covers how to plan and implement an asset protection strategy that deals with the client’s current situation plus provides the flexibility to adapt to the client’s changing needs and circumstances.
The starting point in any asset planning exercise is to take the time to find out about the client – the who, what and why. The plan once completed needs to be reviewed and updated regularly. Each new property transaction and change in personal and family circumstances needs to be factored in and integrated with the client’s overall plan.
This paper begins with suggested questions to ask the client at the beginning of the lawyer/client relationship. A key element to work out is exactly who you are acting for and the intentions of the parties. For example, if there is a property transaction such as a purchase or a sale, then find out why this transaction is being undertaken now.
The paper then also leads on to considerations of different ownership structures, that may be appropriate for the client’s needs.
We move on to consider issues relevant to the Property (Relationships) Act 1976 (PRA), discuss when to use a trust for asset protection, and end with an exploration of some changes resulting from the new Trusts Act 2019.
These are the slides included in the presentation.
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Partner, Brookfields Lawyers, Auckland
Senior Solicitor, Brookfields Lawyers, Auckland