Family Trusts vs Wills: What Are the Differences Between These Estate-Planning Options? gobankingrates.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gobankingrates.com Daily Mail and Mail on Sunday newspapers.
Wednesday, 14 July 2021, 2:38 pm
Innovative online savings platform InvestNow has knocked
back claims that the current ‘single scheme’ KiwiSaver
rule limits member choice.
Mike Heath, InvestNow
General Manager, said recent media comments alleging the
current law restricting KiwiSaver members to one scheme is
‘incredibly bad practice’ misses an important
development in the sector.
“At InvestNow we’ve
solved what some media commentators are calling a flaw in
the design of KiwiSaver that restricts diversification by
preventing members from joining more than one scheme,”
Heath said. “By applying our existing platform technology,
Kiwis don’t have to have all their KiwiSaver eggs in one
Banks may target family trusts of loan guarantors
Synopsis
Many of the family trusts created by businesspeople are meant primarily to protect their assets from potential claims related to their companies, such as in bankruptcies. Neither lenders nor agencies such as the Enforcement Directorate or income tax department have been able to penetrate these asset protection trusts.
Banks and business promoters are seeking legal opinion to figure out if lenders could recover money and assets parked inside family trusts, following a recent Supreme Court ruling on personal guarantors. The SC ruling said personal guarantors of loans are liable in insolvency cases. This means creditors can initiate proceedings against personal guarantors of corporate debt.
Personal & Trust Tax Senior job with AJ Chambers accountancyage.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountancyage.com Daily Mail and Mail on Sunday newspapers.