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Archive Presentation l Booklet l PowerPoint Presentation
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There will need to be a radical change to the drafting of trust deeds in order to comply with the New Trusts Act. This webinar will consider how you can meet your obligations to explain modification of default duties and indemnity clauses to your clients. It will also examine what trustee powers should be included in their deeds and other changes required.
The webinar will review the aspects of the Trusts Act 2019 which will affect the way in which trust deeds will be drafted in future. It will also consider changes that may need to be made to existing trust deeds (where there is a power to vary). The webinar will also look at how best to meet the requirements of the new Act when drafting trust deeds in future.
Topics covered will include:Please contact us if you use a dial up internet connection.
Authors: Chris Kelly, Kimberly Lawrence
Published: 22 July 2020
Pages: 21
This paper is concerned with the impact of the Trusts Act 2019 (the Act) on the drafting of trust deeds. While many of the clauses that have traditionally been included in trust deeds will still be appropriate in new trust deeds, extra steps may need to be taken to ensure compliance with the requirements of the new legislation.
The Act does not come into force until 30 January 2021. Until that time lawyers will be free to draft the deeds as they have done in the past, although to future proof those trust deeds, it would be wise to specify that the trust deed overrides the default duties set out in the Act (once it is in force) to the extent necessary to give effect to the terms of the trust deed. Investment provisions should be specifically addressed.
However, prior to 30 January 2021, it is not necessary to comply with all of the requirements which are set out in this paper. This paper is primarily concerned with the provisions that should be considered when preparing trust deeds for signature after 30 January 2021.
These are the slides included in the webinar presentation.
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New Trusts Act - Duties of Trustees - Webinar PackagePublication Date: 29-Jun-2020Authors: Chris Kelly, Colette Mackenzie |
NZ $179.00 | ||
New Trusts Act - Key Changes Overview - Webinar PackagePublication Date: 12-Jun-2020Authors: Greg Kelly, Colette Mackenzie |
NZ $179.00 |
Greg Kelly Law
Wellington
Greg Kelly Law
Wellington