Around the World in 90 Days

12 Jun 2025

Over a three-month period, Lee Harris has embarked on a story-telling adventure around the world. No matter the country, all stories illustrate how foreign connections with foreign property ownership or trusts resulted in beyond belief outcomes.

If you think these stories are limited to the uber-wealthy, a recent survey of more than 20 staff members revealed that 72% have either family or friends who have similar foreign connections. If you can answer “yes” to one of the following survey questions, one of the chapters is likely to be a call to action:

You, family or friends:

1. Own real estate overseas.
2. Live in either the United Kingdom or Australia and are a beneficiary of a New Zealand trust.
3. Are American or hold a US Green card and are a beneficiary of a New Zealand trust.
4. Live overseas and expect to receive distributions from a trust.

Chapter 1: Thailand

Thai relationship law resulted in the Thai widow being required to pay 50% of her husband’s unregistered interests (held in her sole name) to his New Zealand parents.

Chapter 2: Norway

Payments of capital from a NZ trust to a Norwegian resident were ignored and treated as income, with trust capital gains and interest free loans also taxed in Norway.

Chapter 3: USA

A NZ Green card holder living in the USA was obliged to declare both income and trust assets annually in the USA as if he owned them personally.

Chapter 4: France

Ownership of French real estate resulted in French inheritance rights for children modifying an English will, and the joint ownership was ignored.

Chapter 5: Australia

A trust set up to benefit an Australian citizen stood to result in a loss of almost 50% of the trust assets once distributed.

Chapter 6: United Kingdom

A trust’s interest-free loan to a London based New Zealander triggered UK capital gains tax on the NZ property, taxation on the interest-free benefit and inheritance tax treatment.

Make no mistake - any foreign connection with trusts or property ownership will trigger foreign laws, including that country’s relationship and tax laws.

If you want the end of your foreign journey to have a happy ending for your loved ones, embark on the journey during your lifetime by seeking advice from us.