Q: My friend has recently set up a trust. She is in a new relationship and thinks this will protect her assets from her partner if they break up. She has asked me to be an independent trustee. I don’t know much about financial matters, but she’s been there for me in the past so I want to help. Is this something I should do?
Being a trustee comes with onerous obligations and puts you at risk if anything goes wrong. In this NZ Herald article, I discuss the consequences of this decision.