The Arrival of The Trusts Act 2019
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 month
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As of midnight, on Wednesday 25th March, an unprecedented number of NZ businesses were not able to access their business premises due to...
Understanding the Trusts Act 2019: What Trustees and Beneficiaries Need to Know
The Trusts Act 2019 , which came into effect in January 2021, introduced important changes affecting trustees and beneficiaries across New Zealand. If you’re a trustee or beneficiary in Pukekohe, South Auckland, or Waiheke, understanding these changes is crucial to ensure your trust complies with the law. Key Duties Imposed on Trustees The Act clearly defines mandatory duties that trustees must follow, some of which cannot be modified or excluded by a trust deed. These includ