In Re Arcus the Court consents to a variation of trust on behalf of minor beneficiaries. The trust in question had a maximum duration of 50 years. No reason was given for this. The trustees were of the view that as the trust had been successful and accrued a significant body of of assets and investments “.. an extension of its lifespan to the statutory maximum of 125 years will allow the trustees to use the Trust “to its full potential to generate wealth for future generations.”
As noted at [9]:
“The proposed new trust deed is a modern and comprehensive document containing considerably more detail than the 2000 deed. In addition to extending the term of the Trust to 2125, it contains a comprehensive definition of the discretionary and final beneficiaries, sets out a range of purposes for which the Trust’s funds may be applied, and provides for the appointment of [the settlors’] children and grandchildren as the final beneficiaries.
While the decision does not refence dynastic trusts, the inference to be drawn is that the accumulated wealth can properly be maintained to benefit future generations.
References:
- Re Arcus [2026] NZHC 581
- Trusts Act 2019, ss 122 and 124
Matters of Trust 
We are still seeing old trusts with short vesting dates, such as the testamentary trust I had the Queensland Supreme Court vary last year (vesting on the last child attaining 30).
We think these are a product of death and estate duties but it’s impossible not to tell since all the old hands are dead or not interested.
Posted by David Marks KC | April 5, 2026, 12:57 am