Trust Law Reform

Running a Trust in 2021 and beyond

The Trusts Act 2019 ("Act") will take effect from 30 January 2021. Running trusts under the new regime can be divided into three components — functional, emotional, and ethical. Neglecting to invest trust property or poor investment choices can be reasons for the breakdown of trusts.

What it means to run a Trust in 2021?

On 30th July, an important piece of legislation which affects many people received a Royal Assent but received little media attention. It’s the Trusts Act 2019. With New Zealand having the highest number of trusts per capita in the world, new landmark legislation has critical implications for the thousands of trustees and many more beneficiaries of these structures.

Trust Law Reform Part II- You'd best be prepared if trusts bill becomes law

The proposed law changes will mean the right to have the trust properly managed, in accordance with the trust deed, is paramount. Many trustees will need to balance these considerations, and it will be difficult.

Trust law reform Part I - benefits versus costs, responsibilities

With 300,000 to 500,000 trusts operating in New Zealand, a new trusts bill introduced to Parliament earlier this year has the potential to deliver wide-ranging impacts.