In our previous article, we introduced the Trusts Act 2019 (Act), which received Royal Assent on 20 July 2019. We outlined some of the key changes under the Act and identified a number of issues for trustees to consider. In this article we provide more detail on the issues arising under the Act relating to record keeping and disclosure of information. Click the link to find out more about the Act...

The Trusts Act 2019 (Act) received Royal Assent on 30 July 2019. The Act will come into force from 30 January 2021 and is the most extensive revision and modernisation of New Zealand’s law relating to trusts and trust administration in over 60 years. The Act will replace the Trustee Act 1956 and the Perpetuities Act 1964. If you have a family trust or are a trustee of a family trust, you should be aware of these key changes to the law and seek legal advice where appropriate.

New Zealand’s law relating to trusts and trust administration is undergoing its most extensive revision and modernisation in over 60 years. On 1 August 2017, Justice Minister Amy Adams introduced the Trusts Bill (Bill) into Parliament. The Bill is now heading towards its second reading. We expect that the Bill will pass into law – most likely during this year.