Mason Lockhart discusses family trusts with Darcy Ungaro - can you trust trusts these days? You'd be surprised to learn they don't do what you may think they do, especially when it comes to shielding your main home from 'means testing'.
Mason Lockhart discusses family trusts with Darcy Ungaro - can you trust trusts these days? You'd be surprised to learn they don't do what you may think they do, especially when it comes to shielding your main home from 'means testing' for the residential care subsidy.
Asset protection and estate planning are the two main functions of family trusts in New Zealand. They used to do so much more than this however and in many cases, people who were advised to set up a family trust, may be surprised to learn that the level of utility offered by these ownership vehicles has qualitatively changed over time.
Mason Lockhart LLB.B.Com is the principal of a boutique commercial and property legal practice: Lockhart Legal Limited, which he set up in 2008. Mason has more than 20 years' professional legal experience advising on a wide range of legal matters.
Mason is a commercial lawyer with a focus on business mergers and acquisitions, and legal advice to a broad range of SME’s. He has a strong practical grounding in advising on all legal aspects of private clients' personal affairs, including asset protection, estate planning, residential conveyancing and property transactions, wills and estates.
Prior to commencing practice in his firm, Mason was a senior legal counsel for Heineken International in Amsterdam for 6 years, sitting on the management team for the Africa Middle East Region. He was general counsel for DB Breweries Limited in New Zealand before his overseas posting.
Mason has also acted as a company director for several Heineken subsidiaries and is currently a professional trustee for both private clients and charitable trusts.
Now by now, you know that none of our shows can't be considered financial advice - well this show's special, in that it can't be considered legal advice either. For that, we strongly suggest you seek out your own independent legal advice.
To learn more about the residential care subsidy: https://www.workandincome.govt.nz/products/a-z-benefits/residential-care-subsidy.html
To learn more about how Lockhart Legal can assist you: https://www.lockhartlegal.co.nz/Our-Services/Trusts-Estates-and-Relationship-Property
Where to find Darcy Ungaro:
Ungaro &Co (registered) financial advisers https://www.ungaro.co.nz
Facebook: https://www.facebook.com/UFinServ/?ref=bookmarks
Instagram: https://www.instagram.com/ungaro.co.nz/
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