Release of Review of the Law of Trusts Report

Publication Date 
11 September 2013

The Law Commission is recommending a new Act clarifying the legal rights and duties of New Zealanders who use trusts to manage their assets. If enacted, the new Trusts Act would be relevant to tens of thousands of New Zealanders who use trusts as an alternative way of holding and managing property or other assets.

It is estimated New Zealand has 300,000 to 500,000 trusts used for a variety of purposes  The Commission considers it is in the public interest to have a modern statute that gives trustees and others guidance as to how a trust is to be managed and increases the accountability of trustees.