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It has been estimated that there are between 300,000-500,000 trusts in this country. Trusts have been established for many different reasons, including estate planning, creditor protection, to ensure access to rest home subsidies, tax benefits or for protection from relationship property claims.

If you have a family trust set up a number of years ago, it’s good practice to review it to ensure it is still ‘fit for purpose’. Leading on from that is the question that is often asked of us, “Should I bring my trust to an end?”

We talk a lot about the perils of dying without a Will, and the unnecessary mess, stress and cost that can be left behind. Yet, many people still don’t fully appreciate what that actually looks like for loved ones, or how their worldly goods will be divided up.

The hot pool at the new Wanaka Community Pool complex was at risk of being canned, but proceeded thanks to the generosity of two business identities and philanthropists, who bequeathed $1m to enrich the Upper Clutha community they held so dear.

While contemplating one’s mortality isn’t the most uplifting of pastimes, it is important to consider how you would like your earthly possessions dealt with once you “pop your clogs”.

Newsflash – notwithstanding some speedy cryogenics breakthrough, we’re all going to shuffle off this mortal coil one day. Even our most hardy avoidant, denial mechanisms, including skirting around the very real need to not only make a proper Will, but also keep it current, are an antidote to that reality.

Aspiring Law Administrator Carol Stevens with the welcome pack for Age Concern’s “Dignity Champions” initiative.

Retiring as a trustee? There’s a process that should avoid any problems down the line.