Package includes:

Online CPD Module  l  Electronic booklet  l  PowerPoint Presentation

Package Fee (incl GST)

• $125 - NZLS members and Associate members
• $175 - Non-members

Note: Access to the online files is via your "My CPD" page. If you would like to purchase multiple packages, please contact us here.

Online CPD Module

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:

• A discussion on how to best protect your clients’ assets, including:
  - structuring asset protection for specific situations and choosing the right ownership vehicle ie individually, together with others, in a company or a trust
  - the potential need for agreements to be put in place with other parties enduring Powers of Attorney – making sure the right people are in place to look after your assets in the event of incapacity
  - the need for Wills to ensure asset protection is continuous on death
• Guidance on the use of Trusts, including:
  - when to use a Trust for asset protection
  - factors to consider including required annual administration and the gifting of assets
  - a discussion on upcoming changes resulting from the new Trusts Act 2019
• A discussion of the Property (Relationships) Act 1976 and how this affects asset protection, including consideration of the following:
  - property subject or not subject to claim under the Act and the need for s 21 Agreements
  - time limits for application for division of relationship property
  - reasons to elect or not to elect making a claim under the Act.

Learning objectives

By completing this module you will gain:

• Practical tips on the fundamentals you need to watch out for when advising your clients.
• Best practice advice on how to structure your clients’ assets to ensure utmost protection.

Electronic paper 

Authors: Alison Gilbert, Paula Keuning
Published: 28 November 2019
Pages: 16

Introduction

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.

PowerPoint Presentation

These are the slides included in the presentation.