Earlier this year, a Christchurch businessman was found borrowing millions of dollars against his family trusts for his clothing company - racking up a $3-million dollar spend.

His sister prompted legal action, and two homes had to be sold as collateral.

But that brings up a question - what can we leave behind for our children and family that won't just be squandered or swindled?

Trusts and inheritance is a something most families will have to deal with when older-relatives pass, so how assured can we be that assets are protected?

Managing Director for New Zealand Family Trust Servicers, Janet Xuccoa joins Tim Beveridge for Smart Money...

LISTEN ABOVE

Earlier this year, a Christchurch businessman was found borrowing millions of dollars against his family trusts for his clothing company - racking up a $3-million dollar spend.
His sister prompted legal action, and two homes had to be sold as collateral.
But that brings up a question - what can we leave behind for our children and family that won't just be squandered or swindled?
Trusts and inheritance is a something most families will have to deal with when older-relatives pass, so how assured can we be that assets are protected?
Managing Director for New Zealand Family Trust Servicers, Janet Xuccoa joins Tim Beveridge for Smart Money...
LISTEN ABOVE

Looking to make sense of your dollars? Newstalk ZB’s Smart Money delves into the deep, dark recesses of unwanted debt, traverses the highs and lows of investments and helps to ensure you money works for you.

Our industry experts give us their top tips on a wide selection of topics including mortgage rates, stock, savings, goal-setting and retirement.

Looking to make sense of your dollars? Newstalk ZB’s Smart Money delves into the deep, dark recesses of unwanted debt, traverses the highs and lows of investments and helps to ensure you money works for you. Our industry experts give us their top tips on a wide selection of topics including mortgage rates, stock, savings, goal-setting and retirement.

Looking to make sense of your dollars? Newstalk ZB’s Smart Money delves into the deep, dark recesses of unwanted debt, traverses the highs and lows of investments and helps to ensure you money works for you.

Smart Money

Janet Xuccoa: Your list of trustees has to be tight and reputable

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/92b967c7-29d5-4cb7-a9b6-b4620062e77f/transcript