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Trusts Act 2019 - it's here! - Mortlock McCormack Law | Property and Commercial Law | Christchurch, New Zealand
Trusts Act 2019 - it's here! - Mortlock McCormack Law | Property and Commercial Law | Christchurch, New Zealand
Trusts Act 2019 - it's here! - Mortlock McCormack Law | Property and Commercial Law | Christchurch, New Zealand
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Trusts Act 2019 – it’s here!

March 2021

Jamie Stanton

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 subject to a new disclosure regime. That is, the requirement to provide beneficiaries with information about the trust. The Act requires trustees to be proactive in this area so it is not a case of beneficiaries having to ask first. If you are a trustee, the first thing you need to do is to read and understand the trust deed and identify all of the beneficiaries. The next thing to do is work out what information you will need to provide those beneficiaries and how and when that will happen.

As always we are here to assist and answer any questions you have, contact Andrew Logan, Partner (DDI 03 343 8452 /andrew@mmlaw.co.nz) or Jamie Stanton, Senior Solicitor (DDI 03 343 8588 / jamie@mmlaw.co.nz).