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This profile was automatically generated using 7 references found on the Internet. This information has not been verified. Learn more...
This profile was automatically generated using 7 references found on the Internet. This information has not been verified. Learn more...
View all 7 references Web References
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1. www.theworld.accurate-information-online.net
www.theworld.accurate-informat - [Cached]Published on: 5/15/2007 Last Visited: 5/15/2007
The assets of many New Zealanders are being endangered by widespread confusion about trusts and a growing trend for the younger generation to challenge trusts, in the view of Mark Cassidy, Manager of Business Innovation for Guardian Trust. -
2. www.webhsb.com
www.webhsb.com/portal/story.as - [Cached]Published on: 5/8/2007 Last Visited: 5/12/2007
Mark Cassidy, a senior adviser at Guardian Trust, says if a trust has not been correctly administered, then in the eyes of the law it is as if it never existed.
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Mr Cassidy says they will only pay a lawyer enough for a template job, using a standard deed form with a few blanks to fill in.
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Mr Cassidy says there is nothing stopping people from taking a DIY approach to trust administration.
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Mr Cassidy says people often carry on as if nothing has changed. They might decide to extend or sell a house without formally consulting the other trustees whose names are on the deeds.
He remembers one businesswoman who moved, then rented out her old home. The house had been put in trust, with her sister a co- trustee. Yet she was claiming the depreciation charges and mortgage tax relief against her own personal tax bill. And there had been no minuting of any decisions. Not only could the trust have been ruled a sham because of her actions, leaving her exposed to both creditors and the IRD, but her sister as a trustee would have been left liable as well.
Mr Cassidy says trustees cannot use the excuse that they did not know what was going on because they are meant to be taking an active part in the management. -
3. Good Returns - Search
www.goodreturns.co.nz/search19 - [Cached]Published on: 2/7/2005 Last Visited: 2/7/2005
Guardian Trust business development manager Mark Cassidy explains how they should be used.
