New Trust Act
A new Trusts Act came into effect on 30 July 2019. This is a major change in the law for New Zealand as the new Act will affect ALL New Zealand Family Trusts. There is a deferment period to enable…
Trusts Bill
The long-awaited Trusts Bill was introduced to Parliament on 1 August 2017. The Bill is largely an update and restatement of the Trustee Act 1956 and the common law. However, it also deals with practical issues that have faced lawyers…
Confusion Turns To Clarity
This year the Government will pass into law a new Trusts Act, which will finally end many years of confusion and ambiguity. Our Trust specialist, Ian Turner, was a member of the nationwide committee of lawyers that reviewed the draft…
The New Trusts Act Is Coming
Earlier this month, the Ministry of Justice released the long-anticipated draft Trusts Bill for consultation. The proposed new Act sends a clear signal about the need to improve record-keeping and compliance, especially for non-professional trustees. This will be a major…
Neglecting Your Trust
“Trusts are the most common wealth protection tool in New Zealand. If they are not maintained, however, they simply won't do the job. You wouldn't buy a Lamborghini and leave it to rust, but many people treat their Trusts like…
Privacy & Family Trusts – the net tightens
The case of Erceg v Erceg currently being heard in the Supreme Court is challenging the traditional privacy that has been the hallmark of family trusts in New Zealand. While beneficiaries have limited rights to information under the present regime…