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The latest changes in laws that affect you
Legal updates and tips & tricks for anyone to reference. They are not designed as a substitute for legal advice.
The Trusts Act 2019
The Trusts Act 2019 will come into effect on 30 January 2021. The Trusts Act 2019 will replace the Trustee Act 1956 and the Perpetuities Act 1964 to make trust law more accessible, clarify and simplify core trust principles and essential obligations for trustees, and preserve the flexibility of the common law to allow trust law to continue to evolve through the courts. It is essential that all trust deeds are updated.
Alter ego trusts
A number of family court decisions in Australia and New Zealand have incorrectly created the impression that if a trust is the "alter ego" or "puppet" of the settlor it can be disregarded.