In these modern times, we all love the convenience of doing things in our own time and in our own space. Shopping on our phones, banking at midnight or surfing for groceries at 3am! Finding time to get in to see a lawyer during regular 9 to 5 office hours often gets put on the back burner or the too hard basket when it’s not something we think is urgent. Sometimes people are more concerned at the cost involved in seeing a lawyer so avoid a visit. With that kiwi can-do attitude some also seek out a cost-saving DIY option to avoid that lawyer’s visit altogether.
Most trust clients will have heard that the new Trusts Act 2019 comes into force on 31 January 2021. Together with a much awaited modernising of the laws around trusts the act will create additional obligations on Trustees. All Trustees must read and understand those very long and wordy Trust Deeds. The annual trustee meeting and review of the trust can no longer be ignored.