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The Professional Trustee Team

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New Trust Law Passed

by The Professional Trustee Team 29 Aug 19

30 July 2019 was an important milestone in the land of trusts.  That was the date the Trust Act 2019 became law in New Zealand.  One of the objectives of this new law is to provide for greater transparency and accountability by trustees to beneficiaries...

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A step forward in trust law

by The Professional Trustee Team 24 Jun 19

Trusts hail from medieval times and one can be forgiven for thinking current trust law has been on our statute books since that time too.  A combination of legislation, common law judgements and equity maxims result in the law being antiquated and complex.   This frequently..

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Property Contracts - the devil is in the detail

by The Professional Trustee Team 18 Dec 17

Property contracts, including sale and purchase agreements and building contracts, sometimes include clauses that can be harmful to the unwary. And by unwary, I simply mean people who are not used to dealing with such legal documentation.  One of the advantages of using a professional..

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New Trust Legislation

by The Professional Trustee Team 28 Sep 17

A new bill is making its way through Parliament which is going to see changes made to the current Trustee Act.  All those with an existing trust should be aware of the implications imposed and the opportunities this new bill will bring when it becomes..

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Professional Trustee preventing costly mistakes

by The Professional Trustee Team 29 Mar 17

Recently I've seen several interesting client problems which would undoubtedly have resulted in lots of money being lost and lots of legal fees being incurred if these clients hadn't had GRA's Professional Trustee on board.  Having now experienced three property cycles in my adult lifetime,..

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When 'mine' becomes 'ours' - keeping assets separate

by The Professional Trustee Team 14 Sep 16

It is a common misconception that you have to live with someone for three years or more, and they have to make a direct contribution to the assets acquired during the relationship, before they're entitled to bring a relationship property claim. Possibly this mistaken belief..

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Inheritances Lost Unnecessarily

by The Professional Trustee Team 08 Dec 15

Every parent wants their children to have an equally good if not better life than what they've lived. To achieve that objective, parents tend to work hard to build up assets so they have something to leave their children when they die.  This is done..

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Legal judgement affecting Trusts

by The Professional Trustee Team 10 Sep 15

We all know Trust law is a moving beast. The Court of Appeal recently demonstrated this when it released a judgement that had professional trustees using their little grey cells and thinking hard about their clients.  The case involved a fairly traditional marriage, of reasonably..

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Buying and selling property through trusts

by The Professional Trustee Team 08 Sep 15

Most people are aware that from 1 October 2015, residential property (with some exceptions) that is bought and sold within a two year period will attract tax payable on capital gains made.  This rule will apply to equally to individuals, companies and Trusts.  If a..

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