The Star: August 29, 2019

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FUNERAL TRUSTS 8 LAW LIVING LIFE People may know that they are entitled to have funds set aside for a pre-paid funeral. What many people may not be aware of are the different options that exist and the amount that each person is allowed to set aside for their funeral which will not be included in an assessment of their assets under the present Work and Income rules. Many people choose to enter into a pre-paid funeral arrangement with a funeral director of their choice. Generally speaking, this will be for a set amount which is sufficient to cover the costs of a funeral at today’s rates. Those funds are then invested in a funeral trust by the funeral director. If there is a shortfall at the time of your death, your estate will need to make up the difference. You should seek advice before signing any contract. Another option is to establish a Funeral Trust to hold funds specifically for your funeral costs. Everyone is entitled to have a maximum of up to $10,000 set aside in a Funeral Trust which is not included as part of your assets under current Work and Income policy. A Funeral Trust is established by the signing of a declaration and appointment of (usually) two people as trustees (normally the same people as you have nominated as the executors in your Will). Then, the sum of money you decide to deposit in the name of the Trust is held for the express purpose of paying for your funeral. In deciding the amount it is important to keep in mind that the funds are locked into the Trust and will not be available to you in your lifetime. These funds may be invested in an investment of your trustees’ choice. At the time of your death, the trustees are free to decide which funeral director to engage and the funds are immediately available to pay towards your funeral costs. If there is a balance left, this will form part of your estate, and is distributed according to the terms of your Will. Setting aside surplus funds in a Funeral Trust provides peace of mind that your loved ones will have one less thing to worry about at the difficult time after your death and is also a good asset protection measure. If you are interested in exploring more about Funeral Trusts or other asset protection methods you should seek legal advice from someone experienced in this area of law. At Harmans we have a specialist seniors team to help you with any queries you may have. Give Phillipa Shaw a call on 352-2293 to arrange an appointment to discuss your situation. Our pre-paid scheme provides peace of mind in knowing that your funeral details are in good hands. For more information call 0800 99 22 00 or to request a free information pack The Lamb & Hayward Funeral Trustee Ltd is a secure scheme managed by separate Trustees.
EXERCISE THE MIND QUICK CROSSWORD 1 2 3 4 5 6 7 8 9 10 11 12 13 ACROSS 1 Potter’s material (4) 3 Sheath for a sword (8) 9 Arabian Nights hero (3,4) 10 Holiest city of Islam (5) 11 Larceny (5) 12 Shake with cold (6) 14 Fired (6) 16 Small (6) 19 Material for violin strings (6) 21 Seedhead of a dandelion (5) 24 Vine fruit (5) 25 Yerevan is the capital of this country (7) 26 Climbing plant with fragrant flowers (5,3) 27 Tool for cutting and shaping wood (4) 14 15 16 17 SUDOKU - EASY 18 19 20 21 22 23 24 25 9 LIVING LIFE PUZZLE 26 27 DOWN 1 Castigate (8) 2 Wonderland girl (5) 4 Unrefined (6) 5 Walt Disney deer (5) 6 Very old (7) 7 Momentous date in World War II (1-3) 8 Farm livestock (6) 13 Item of jewellery (8) 15 Readily perceived pretence (7) 17 Earnings (6) 18 Relaxed (2,4) 20 Invited person (5) 22 Possessed (5) 23 Eras (4) SOLUTIONS ON PAGE 10 Where you live, can inspire how you live. At Elloughton Village you’re in great company. Our community is rich and varied, made up of friends and neighbours who have led amazing, inspiring lives. Teachers, preachers, nurses, naturopaths, pilots and sports champs - it’s really quite an extraordinary group of people you will find living here. With superb amenities, beautiful surrounds, tailored care services and engaging activities, you too will find a rewarding, inspiring life waiting for you at Elloughton Village. Jesse Schell, our Site Manager, would love to take you on a personalised tour, answer any questions you have and introduce you to our vibrant, ever-growing community. Give us a call to make an appointment. Brand new, world-class, architecturally-designed, 2-bedroom stand alone villas, priced from just $380,000. Advanced care facilities Available on site if you need them Leave no pet behind Your family pet is welcome here Peace of mind St John medical alarm in every home Brand new villas With leading brand appliances Discover inspired living at Elloughton Village. Call Jesse now on 0800 155 155. For a virtual tour of the Village and a villa go to www.elloughtonvillage.co.nz www.elloughtonvillage.co.nz 1 Pages Road, Marchwiel, Timaru 7910 Our Village sales office has more information and is open from Monday to Thursday. Bookings for tours are essential.
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The Star: August 29, 2019

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