what’s happening? The new Trust Act 2019 (“the Act”) comes into effect from January 2021. It is estimated there are over 500,000 trusts in New Zealand and the Act will have an extraordinary impact on thousands of New Zealanders This is a considerable time of change and there is significant work to be carried out in getting prepared for the changes, We want to ensure that our clients are ready for the changes before January 30, 2021 deadline, this leaves us less than 10 months to help you be prepared! what does it mean for trustees? You need to review your Trust, we need to have a discussion about your trust and ascertain what (if anything needs to be done. what does it mean for beneficiarie
covid-19 contactless services The response to Covid-19 lockdown has introduced new challenges for lawyers to work remotely and provide a contactless service, including signing legal documents. These restrictions will continue as we move into Level 3 this week. The process of signing documents and verification of identity must now be completed remotely in a secure and reliable way. For property law, that includes complying with the requirements of Land Information New Zealand (LINZ). With the tools of technology, we can complete remote signing for almost everything, in a safe way for both our team and our clients, allowing us to continue our service as normal. audio-visual technology The Law
As of midnight, on Wednesday 25th March, an unprecedented number of NZ businesses were not able to access their business premises due to Government restrictions to prevent the spread of Covid-19. If your lease is on the current (sixth) edition of the Auckland District Law Society (ADLS) form of lease, it is likely to contain a “no access” clause allowing for a reduction in rent where there is an emergency and the tenant can’t gain access to the premises to fully conduct the tenants business from the premises. but what does this mean for you? An inability to access premises does not automatically equal a 100% reduction in rent and outgoings for the shutdown period. The reduction in rent will
what’s happening? The new Trust Act 2019 (“the Act”) comes into effect from January 2021. It is estimated there are over 500,000 trusts in New Zealand and the Act with have an extraordinary impact on thousands of New Zealanders. This is a considerable time of change and there is significant work to be carried out in getting prepared for the changes. We want to ensure that our clients are ready doe the changes before January 31 2021, this leaves us less than 9 months to help you be prepared! what does it mean for trustees? The key things that professional trustees and settlors should be aware of and consider under the Act include: mandatory duties: the previous law always overshadowed and im