What to do when a Trustee loses capacity: A guide for Family Trusts
A Trustee of my Family Trust has lost capacity – what do I do? Trustees are the people who own the trust assets and manage those assets for the benefit…
Bare Trust arrangements: what you need to know before getting started
Bare Trusts When our assets are not owned by a company or in a trust, we usually own our assets in our personal name. However, you can ask someone else…
Changes to the Trustee tax rate are coming on 1 April 2024
The rules around taxing Trusts are changing on 1 April 2024, with the Government proposing to change the trustee income tax rate from 33% to 39%. The Government’s intention behind…
Trusts Act Update – core documents
The Trusts Act that came into effect in January 2021 is the first major reform since 1956. New legislation has impacted trustees, beneficiaries, and legal practitioners, mainly for the better. The…
Moving in or moving on? Plan ahead!
Have you and your partner entered into a Relationship Property Agreement? You might be surprised to find that your separate property may not be as secure from your partner as…
Trust Law Update – The Case of the Missing Beneficiary
The recent case of The Estate of Thomas Winston Hodgson highlights changes under the new Trusts Act and what the Court will deem ‘reasonable measures’ when trying to find missing…
Trusts Act 2019 Is Now In Force
As at 30 January 2021, the Trusts Act 2019 is in force. This long awaited Act brings the law up to date in replacing the Trustee Act 1956. The new…
The New Trusts Act – Are You Ready?
The most significant change in New Zealand trust law in more than 60 years is almost here with the Trusts Act 2019 to come into effect in January 2021. With…
Do You Need A Legal Health Check?
Covid-19 has the world focussed on our physical health, with good reason. During this time of uncertainty, we also should be thinking about our “legal health”. A quick check you…
Is Your Family Trust Past Its Use By Date?
A recent article published by stuff.co.nz highlights that many family trusts established in the 1980s and 1990s may no longer be needed due to changes in circumstances and upcoming changes…