Articles and updates

As professional service providers, Gilligan Sheppard is invited to play a role in many of our client’s lives, by assisting them to resolve business and family issues. Many of these situations with our clients are delicate and memorable, and we count ourselves lucky be a part of their journey. Reminiscing on these experiences has given […]

After five weeks of level-four lockdown, followed by seven weeks of level-three, I was asked to write an article for our newsletter. To be honest, I couldn’t summon enough positive energy to write something encouraging or cheerful. Nor could I pretend to know more than anyone else on how to cope with the current situation. […]

Quite often, a company holding a family business may need to improve its ownership structure; this can mean transferring shares from ‘individuals’ into ‘trusts’. Common situations where this occurs: Succession planning – when the controlling individuals bring family members together in an attempt to make a viable business across generations. Risk protection – when the […]

I was recently listening to the audio book ‘Game of Thrones’ and the saying “A Lannister always pays his debts.” struck me and reminded me of the incidents of two entities: both were from overseas, both engaged New Zealand professional services and both neglected to manage their debts. It was so easy walking into an office having a lengthy talk […]

The Trusts Act 2019 received royal consent in July 2019 and will come into effect after 30th January 2021. The Act codifies existing practice surrounding trusts. The key changes are: Extension of a trust’s life from 80 years to 125 years. Defined trustee duties to mandatory duties and default duties. Default duties can be contracted […]