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Trusts Bill has first reading

The Trusts Bill, which was introduced on 1 August 2017, and which represents that first major change to trust law legislation in New Zealand for over 60 years, had its first reading in Parliament on 6 December 2017.   See Trusts Bill Released 1 August 2017 and Trusts Bill Receives First Reading Also see the First Reading. The … Continue reading

Trustees lead astray by Memorandum of Wishes

Mackie Law independent Trustee Limited v Chaplow provides a useful consideration as to how closely trustees should follow a memorandum of wishes. The trust in question was settled by Mr Munro who wrote the memorandum of wishes referred to shortly before his death. The primary beneficiary of the trust following Mr Munro’s death, was his … Continue reading