Do I still need a trust in 2026?
Trusts have changed. Tax rates increased. Asset protection is harder. Here's how to evaluate whether a trust still makes sense.
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Trust Services
Trusts that work for your family.
From establishing new trusts to updating existing ones, we help Hawke's Bay families protect what matters most.
Partner's Perspective
"We're here for Hawke's Bay families.
Let's build something lasting."
Trusts remain one of the most effective ways to protect your family and create a lasting legacy. The Trusts Act 2019 has modernised the framework, making trusts clearer and more transparent. We help families establish trusts that truly serve their needs for generations to come.
Michael Morgan
Director
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Why Trusts Matter
Protecting what you've built together.
For over 150 years, Hawke's Bay families have used trusts to protect assets, provide for loved ones, and create lasting legacies. Modern legislation has strengthened these protections.
Asset Protection
A properly structured trust shields family assets from business risks, relationship property claims, and creditors. This protection gives you confidence to grow your business or investments knowing your family home and savings are secure.
Providing for Your Family
Trusts let you provide for family members in ways a will cannot. You can support children, protect vulnerable beneficiaries, and ensure assets pass to future generations according to your wishes.
- Control over how assets are distributed
- Protection for beneficiaries who need support
- Multi-generational planning
The right trust for your situation.
Every family is different. We help you find the structure that works best for your goals and circumstances.
New Trust
Starting fresh with a modern trust deed designed for today's requirements. We create trusts tailored to your family's specific needs and goals.
Best for New FamiliesUpdate Trust
Your trust is valuable but needs modernising. We update the deed, refresh trustees, or restructure assets to align with current laws and your evolving family needs.
Best for Existing TrustsAsset Protection
Focused on protecting assets from business risks or relationship property claims. We structure your trust to provide maximum protection while remaining practical.
Best for Protection
For Trustees
Read our guide for trustees
We support you every step.
Annual Compliance
We handle it
Meeting minutes, resolutions, and record-keeping requirements taken care of.
Distribution Guidance
Clear advice
When and how to make distributions to beneficiaries properly documented.
Disclosure Support
Navigate with confidence
We help you meet disclosure obligations while managing sensitive family dynamics.
Our Trust Services
Form New Trusts
Establishment
Creating robust, modern trust deeds tailored to your family's needs and future goals.
Vary Existing Trusts
Updates
Updating your deed to reflect changed circumstances, new legislation, or evolving family needs.
Add or Exclude Beneficiaries
Beneficiary Changes
Adjusting who benefits from the trust as your family grows or relationships change.
Transfer Assets
Asset Management
Moving property, investments, or other assets into or out of the trust structure.
Wind Up Trusts
Completion
When a trust has served its purpose, we help you distribute assets and formally close it.
Ongoing Administration
Support
Meeting minutes, resolutions, gifting programmes, and compliance support for trustees.
Not Sure Which You Need?
Will or Trust? Maybe both.
The right choice depends on your circumstances. Our comparison guide helps you understand the key differences and decide which is right for you.
Client Observations
What Our Clients Say
"Thanks for making the trust wind up so smooth and painless."
To ensure candour, all feedback was collected anonymously.
Resources
View all articles
Related Reading
Testamentary Trusts: Protecting Your Children's Inheritance
A testamentary trust protects your children's inheritance until they're ready. Learn how they work and when they make sense.
Read articleShould I Agree to Be a Trustee?
Being asked to be a trustee is an honour, but it comes with real responsibilities. Here's what to understand before you accept.
Read articleRelated Case Studies
View all case studiesSettlor Powers and Trust Validity
How we helped a family restructure their trust to maintain control while ensuring legal validity under the Trusts Act 2019.
Read case studyUpdating Trust Beneficiaries
How we helped trustees update beneficiary records after family changes, so trust documents, distributions, and future planning stayed clear and consistent.
Read case study
Our Trusts Team
Specialists in protecting
what matters most
Common Questions About Trusts
Most farming families use trusts, but trusts were often set up for different reasons than succession. The trust structure may or may not suit your succession goals.
We review your trust deed to understand what flexibility exists, then develop succession options that work within or alongside the trust structure. Sometimes trust restructuring is needed.
It depends on your circumstances. The 39% trustee tax rate has changed the economics, but trusts still serve important purposes beyond tax. Asset protection, intergenerational wealth transfer, and protecting vulnerable beneficiaries remain valid reasons for trusts.
A review will clarify whether your trust still provides sufficient benefit.
The Act requires trustees to maintain records, know the trust terms, and respond to beneficiary information requests. Many existing trusts need to update their processes.
We can assess your trust's compliance and help you address any gaps.
Every three to five years is sensible, or when circumstances change significantly. Major life events (relationship changes, business sales, deaths, new grandchildren) warrant review.
Yes. Winding up involves distributing assets to beneficiaries according to the trust deed or as trustees determine. There are legal and tax implications to consider.
We help you wind up properly.
Under the Trusts Act 2019, you must provide "basic trust information" when requested. This includes the existence of the trust, trustee details, and the beneficiary's status. There are limited exceptions.
Trustees can be personally liable for breach of duty. The Trusts Act 2019 codified duties and made consequences clearer. If you are concerned about your performance as a trustee, getting advice is the responsible step.
Properly structured trusts can provide protection, but it depends on timing and how the trust operates. A trust established after relationship property is at risk, or one that has been treated as a personal asset, may not provide the protection you expect.
Both structures have advantages and disadvantages. Trusts offer flexibility and potential asset protection. Companies offer limited liability and different tax treatment.
The right choice depends on your situation.
