The underused way for Māori families to protect their assets
Siblings Tamihana and Leeana Hamiora-Reweti have a vision for the financial future of their whānau and are setting up a whānau trust to achieve it.
This vision involves one day developing papakainga (homes) on land in which their whānau have shares, and establishing a “homestead” to be a centre for them and their uri (descendents).
Despite having been around for many years, whānau trusts are little known, and little used, the siblings say, with fewer than 300 set up each year, figures from the Māori Land Court show.
“I do believe it’s something a lot of whānau should at least look into, but a lot of people just don’t know they exist,” Tamihana says.