Author(s): Martin Hawes

Business

All booksellers will be familiar with this title.(Published in 1995),now revised ed 2006 it was the first and and continues to be the bestselling book on family trusts on the New Zealand market. It has been revised frequently to keep abreast with changes in the law. What distinguishes this book from its competitors is the very clear language and straightforward, practical advice. It is very accessible to the layperson and is often bought by law firms to give away to their clients. Basically the book explains what a family trust is, the reasons for establishing one and how to go about it. Trusts are devised for various reasons, among them avoiding asset-testing for rest home care, splitting income for tax minimisation purposes, protecting vulnerable assets from creditors and determining/controlling your ultimate beneficiaries. Changes in matrimonial property law have made them more popular than ever, particularly regarding 50/50 splits in relationship property. As Martin Hawes describes it, family trusts are ?the coward?s pre-nuptual agreement?. There are more than 300,000 trusts in New Zealand (Sunday Star-Times, 28 September) and there is no sign that their popularity is waning.