Mm.

Well, well done even thinking about it, Jamie, 'cause, uh, I do know people that leave it and don't think about it, and then it can be quite messy at the end of it to try and sort that out.

So in a situation like that, you, you really are doing as you would if you, if you were going to proceed, is you would be setting up trusts with estate planning goals firmly in mind.

And you can actually design an estate plan whereby the partner that you leave behind when you depart planet Terra firma is well looked after, and you have assets at the same time to pass to your children.

But it does-

Uh, Jim's asked, re: the wills, is the Public Trust a good idea, or is it better to go private through a lawyer?

Right.

Well, um, I want to make a big disclosure here that, um, that, uh, I'm certainly not recommending, um, one or the other.

do? If suddenly the police knock on their door, they'll be like, that's Janet Zakoa, we're going to sort her out.

It's a really big clue when they don't want anything written down to start with.

So you just decline to act.

But back to this point.

We do have the AML legislation.

That's our first port of call because we've got to identify who the client is and where their assets have come from.

But after that, there's lots of other legislation that catches.

That's a legitimate reason to set up a trust, isn't it?

So, Janet, over to you.

That is a massive minefield.

So it used to be that you would set up a trust for the purposes of ultimately avoiding West Home subsidies, the care fees that you might have to pay if you had too much in asset value.

No longer is that possible.

So there are three tests that are completed before you get a sniff at a dollar from the government in regards to a subsidy.

And I would say that the earlier the trusts are set up, the better.

There are rules where you are allowed to put your money in, do all of your gifting, so much per year.

Yes, they

So Janet, over to you.

It's, th- that is a massive minefield.

So it used to be that you would set up a trust for the purposes of ultimately avoiding rest home subsidies, uh, the care, uh, fees that, you know, that you might have to pay if you had too much in asset value.

Um, no longer is that possible.

So there are three tests that are completed, um, before you, before you get a sniff at a dollar from, um, from the government in regards to a subsidy, and I would say that the earlier the trusts are set up, the better.

There are rules where you are allowed to, um, put your money in, do all of your gifting, um, so much per year, five years prior to actually entering into a rest home.

But you can't, um, you can't set up a trust later on in life in New Zealand, um, put your assets in, and then say, "I have no assets now, and government, please pay for my rest home care."

It's from Kathy.

So Janet, over to you.

It's, th- that is a massive minefield.

So it used to be that you would set up a trust for the purposes of ultimately avoiding rest home subsidies, uh, the care, uh, fees that, you know, that you might have to pay if you had too much in asset value.

Um, no longer is that possible.

So there are three tests that are completed, um, before you, before you get a sniff at a dollar from, um, from the government in regards to a subsidy, and I would say that the earlier the trusts are set up, the better.

There are rules where you are allowed to, um, put your money in, do all of your gifting, um, so much per year, five years prior to actually entering into a rest home.

But you can't, um, you can't set up a trust later on in life in New Zealand, um, put your assets in, and then say, "I have no assets now, and government, please pay for my rest home care."

It's from Kathy.