It’s important for us to get full instructions from you when paying funds out of our trust account.
All lawyers must ensure that when paying money out of a client’s trust account, they have authority from the client to do so. This is ...
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It is estimated that around two-thirds of first home buyers in New Zealand seek assistance from their parents to purchase their first home. If you are contemplating supporting your child in purchasing their first home or subsequent property, you ...
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You may have a trust for a variety of reasons, whether for asset structuring or estate planning purposes, or perhaps to benefit a charitable cause or community group. You could be the beneficiary of a particular trust settled by somebody ...
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We all know charity when we see it. Whether it’s a person at the supermarket collecting coins for Hospice Care, the family donating cans of food to the City Mission, or the group of friends covered in dirt and sweat after a hard day of planting ...
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The 2016 Supreme Court case of Clayton v Clayton found that a person’s “bundle of rights” in a trust (e.g. being a trustee, appointor, beneficiary and having powers to say remove other beneficiaries) could be considered an asset in that ...
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Te Aka Matua o te Ture | Law Commission Review of Succession Law in New Zealand
Earlier this year the Law Commission released an Issues Paper which explores the current law of succession in New Zealand. It includes a number of recommendations as ...
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On 30 January 2021 the Trusts Act 2019 came into effect – increased trustee obligations
and disclosure requirements are now in force.
All trustees must now have regard to the mandatory and default duties set out in the Act. Trustees are also ...
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The (long-awaited) review and reform of the Trustee Act 1956 has finally been completed. On 30 July 2019, the new “Trusts Act 2019” received royal assent. The new Act comes into effect on 31 January 2021 and replaces the old 1956 ...
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Anybody who has a trust or is a trustee should now be aware that the reform of trust law, which will see the Trustees Act 1956 replaced with a new Trusts Act, is winding its way through our parliamentary process. The new Trusts Act is likely to come ...
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The “Bright-Line Test”, or period in which profit made from the sale of residential land is taxable as income, has been extended from two to five years. The five year period applies to properties purchased from 29 March 2018 onwards.
The ...
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