I set up a family trust as a solo mum when I bought my first property 10 years ago in Auckland. I sold that house and

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Customer: Hi there.
JA: Hi. How can I help?
Customer: I set up a family trust as a solo mum when I bought my first property 10 years ago in Auckland.
JA: What state are you in? It matters because laws vary by location.
Customer: I sold that house and bought in CHCH 2 years ago. Still under the family trust. . . . I currently live in that property with my son and my cussrent husband - we got married after I bought that property in the trust. 1 year later i also bought a rental property in the trust. . . we only got maried 1.5 years ago and marriage isnt going well. My husband has not contributed financially to either properties, the revovations, matiainence etc - he has however helped around the garden and painting etc (although as nothing has actually been completed I would need to re-do so I dont believe has increased the value of the property) Prior to getting married my husband was paying "rent" to help with costs and also splitting the food bill. Prior to lock down (march 2020) he stoped paying
JA: What steps have you taken so far?
Customer: "rent"and instead only paid for food as he had quit his job and I was supporting him till he got another job.
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: My question is . . .are my assets safe in the family trust or do I have to pay husband out when he leavesw me

Answered by Chris The Lawyer in 1 hour 1 year ago

Chris The Lawyer

10+ years of experience

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Expert in: Family Law, Legal, Estate Law, Real Estate Law, Criminal Law, Employment Law, Business Law, Consumer Protection Law, Bankruptcy Law, Traffic Law, Personal Injury Law.

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Chris The Lawyer

41314 Satisfied customers

10+ years of experience

Chris The Lawyer

10+ years of experience

41314 Satisfied customers

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Chris The Lawyer, Expert

Hi My name is ***** ***** I am a New Zealand lawyer with more than 42 years of experience. I am here to help with your questions.

Customer

Thants Greaqt thanks. I bought my 1st home in auckland 10 years ago under a trust that I had set up - I am the Trustee along with my "company"that was set up especially for trust pruposes. Myself and My son are the Bennifecaries. The trust was set up to protect my assets for myself and my son going forrward incase I found another partner. I did 5 years ago. we moved to chch 3 years ago getting married 1.5 years ago.

Chris The Lawyer, Expert

Claims for relationship property are based on being together for more than 3 years, including before you married. Up until then he could only claim contributions. If the property is in trust that is likely to help although claims can still be made in some circumstances.

Chris The Lawyer, Expert

You are likely to be safe against claims if you are under the three years however

Customer

I sold Auckland and bought a house in CHCH 2 years ago (sill through the trust) which we live in - I bought the house nxt door as investment (also through the trust) 1 year ago. My husband has not contributed finincially to either house or the contents of. I also have renovated and paid for all of that aswell. He has however helps me paint and do gardens etc (i have paid for all the materials) He now says for him to leave (he has already walked out once recently) that I need to pay him out - My understanding is that he can claim for Contributing to the increase in value (considering none of the "work he started hasn't been finished and will need to be re-done now, I dont believe this has increased the value?) Also is the house we live in (even though its in trust) considered relationship property?

Customer

From info I can find online - him contributing to the running costs of the home is also considered to be contributing to the value of the home?

Chris The Lawyer, Expert

The house in trust is not relationship property. In some circumstances assisting with the property and increasing the value can give rise to a claim, but it would only be a very modest claim. If he is under the 3 years, it would not be worth while because the legal expenses would likely exceed any benefit to him

Customer

looks like to me that I have to have hime live there for no cost - I have to pay everything, including garden maintainance etc or I öwe"him if he leaves and need to pay him out? this seem very unfair considering I was solo mum when I managed to buy my 1st home - this was put into trust 10 years ago too secure it for myself and my son? I wasn't able to sell it and do as I please with the funds as I dont own them the trust does? - the rental income from investment property takes care of that mortgage - howeve4r I pay the mortgage on the home we live in and have done for 10 years

Customer

are you saying I dont need to do anything more at this point to ensure my assets are safe?

Customer

He wants to stay and sort our marriage but I'm now concerned he is not being 100% unfront with his intentions? I was happy to continue as he needs support (has asked for my support) for addiction and mental health issues - however if i"m best to quit this before more time - therefore more $ to claim -Is there something more I can do to ensure the security of the trust assets? I maybe best to suggest he signs this to show his intentions - I'm open to him contributing when he can at that point he would have a claim to make upon a marriage breakdown

Customer

I have been trying to arrange a phone call but I can't seem to make this happen?

Chris The Lawyer, Expert

The phone call is extra-shall I make an offer?

Customer

please. . .im finding typing difficult

Customer

my phone number is *****(###) ###-####

Chris The Lawyer, Expert

I will call now if thats OK

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