22/01/2021·2 mins to read
New Trust Act comes into force on 30 January: are you ready?
The Trusts Act 2019 comes into force on 30 January. It will have a big impact on the administration of most trusts in New Zealand - including family, charitable, and some commercial trusts.
There’s a lot for trustees and settlors to get their heads around, so to help you out our trust experts have created 3 easy-to-use guides below that cover the key features of the Act, disclosure obligations, and what you need to do to comply with the Act.
- Trusts Act 2019: key features for trustees and settlors
- Trustee disclosure obligations under the Act
- Key actions for trustees and settlors before the Act comes into force
The Act will apply to charitable trusts, established for charitable purposes, as well as some other trusts established for purposes permitted at law.
However, there are important differences in how the Act applies to these trusts - especially given that they may exist indefinitely and their focus is their purposes, not “beneficiaries”.
Our trust experts have created 2 easy-to-use guides below that cover key features of the Act specific to charitable and other purpose trusts.
- Trusts Act 2019: charitable trusts and other permitted purpose trusts
- Key actions for charitable and other permitted purpose trusts before the Act comes into force
Get in touch
Contact our experts to discuss how the new Act will affect you, and for advice on reviewing trusts and forming an action plan.