A family trust can give you all of the benefits of personally owning your assets, while protecting those assets for your future use and for future generations. etting up a family trust is simple and relatively inexpensive, but it is important to understand how they work and how they should be run. People set up family trusts for many different reasons: To protect family assets from legal action or claims by creditors; to share the tax burden among family members; to protect family assets in the case of a relationship breakdown; to protect assets that will be passed on to future generations. This definitive guide, by one of New Zealand's foremost practitioners in family trusts, brings together everything you need to know. Clear and straightforward, it includes up-to-date advice, with many real-life examples that will help you to determine if a family trust is right for you.