Jannet Xuccoa: When's the right time for a trust?
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Dashing through the snow in a one-horse open sleigh. All the fields we go, laughing all the way. Bells on pop-tail ring, making spirits bright. What fun it is to ride and sing a sleighing song tonight. Jingle bells.
And welcome back to the Weekend Collective. Yeah, a bit of a retro theme with some of the music we're playing this afternoon. I'm Tim Beveridge, by the way. This is the Weekend Collective. But if you hear any of the retro stuff, some of it is, or all of it, is from an album called Christmas Cocktails, which I bought the CD of it donkeys years ago. And it's one of those go-to things. It's got a nice sort of feel, good sort of retro, up-tempo sort of feel to things. And yeah, then I saved it to Spotify, and it is one of my regular go-tos, among other albums, of course, but it's called Christmas Cocktails, if you're curious, I'm looking for it. And I've no vested interest in it, by the way, just to share with you.
Anyway, right now, welcome back. And if you've missed any of the hours, interesting, always fantastic to chat to Alison Gofton about the pre sort of Christmas and catering and food and ideas like that as well. And now this is, look, we often have many calls on the show, but sometimes people save it till the end and then they find they miss out. But we... We want your participation. You can jump on the blow whenever you want. If you've got any questions on this, on 0800 80 1080 or text 9292 for this hour's smart money. And so, look, of course, right now everyone's running around trying to sort out your last minute shopping, not spending too much. But there is the question that what we're going to explore is we want to talk about what do you do with the money and wealth that you would like to either keep in your hot little hands or maybe give to your family once you've gone.
And so trusts, that's what we're going to be talking about, which have often – have often, are often, seen as the province of the uber wealthy, but are they? I mean, should you be thinking about a trust? When should you think about a trust? Inheritances, what's going to happen to our money when we aren't around to look after it? And how much control can you actually have with your property once you're out of the picture. So we're going to talk about that. Should everyone have a family trust? Who shouldn't worry about it? When do trusts absolutely make sense? A huge number of questions around it. But anyway, to discuss that and to take your calls and dish out a bit of non-specific advice, of course, we don't give specific financial advice.
She is Managing Director of New Zealand Family Trust Services Ltd. And her name is Janet Zakai. And Janet is with me now. Janet, hi.
How are you? Hello, Tim. And hello to all of our listeners. Merry Christmas to everybody.
Yeah, compliments.
Do you like Christmas? I love Christmas.
Is it just the time of year because we like the summer? Do you like the sort of decorations? Is it the food? Is it the giving? What is it?
I love the cows. I love all the traditions. I love decorating the tree. And, you know, to be really honest, I love the presents.
Yeah. Actually, the music, I do love Christmas music. I've got a daughter who plays music. In fact, I sort of said, it's not really Christmas, honey. She said, I love Christmas music. So she plays it for several months of the year. But I do quite like at ZB, once 1st of December ticks over.
It makes you feel happy and bubbly.
Yeah, I guess so, yeah. And we've all got our favourites. Of course, I don't get the Kylie Minogue one, which has apparently hit number one. She's got a song, XMAS, and I listened to it and watched it. I thought, I have no idea why that's popular. Maybe it's just because people love Kylie. But anyway, don't even waste your time, people, looking at it. It's just dreadful. Anyway, let's talk about trusts. How long have you been, tell us a bit, I mean, you've been on the show, we've had you on the show two or three times now, I think this is, but just for those who haven't heard you before, tell us a little bit about you and your background and involvement with Trusts.
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