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Timothy Orr on why there could be surprises for beneficiaries and trustees under the new Trusts Act

Timothy Orr on why there could be surprises for beneficiaries and trustees under the new Trusts Act

Timothy Orr was recently interviewed by Radio New Zealand on upcoming changes to Trust law in New Zealand: https://www.rnz.co.nz/news/business/427604/new-trust-laws-set-to-surprise-beneficiaries-lawyer

By Timothy Orr - 5 Oct 2020

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The new Trusts Act and its implications for Trustees

The new Trusts Act and its implications for Trustees

The Trusts Act 2019 ( Act) comes into effect in January 2021, providing the first major reform to trust law in over 70 years. Although the Act implements significant changes, the over-arching purpose of the new legislation is to re-state the existing law in a more accessible format, so that it can better assist beneficiaries in holding trustees to account.

By Jonathon Russell - 31 Aug 2020

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Separating during Lockdown

Separating during Lockdown

The pressure on couples living together 24/7 in their household 'bubbles' has led to a rise in separations during lockdown. Couples have been forced to spend more time together while trying to work from home, fulfilling their usual household duties, paying their bills on time and (where children are involved) attending to their daily needs as well.

By Dharsh Nanayakkara - 24 Aug 2020

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Can I trust 'my' Trust if my relationship breaks down?

Can I trust 'my' Trust if my relationship breaks down?

It is generally well understood that if your relationship comes to an end your relationship property must be shared 50/50 pursuant to the Property (Relationships) Act 1976 (PRA). But, some people believe that if they transfer their assets to a Trust, then those assets will be protected. This is rarely true.

By Tara Grant - 14 Jul 2020

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Prepare for the new Privacy Act

Prepare for the new Privacy Act

The Privacy Bill passed its third reading in parliament and will come into force on 1 December 2020, repealing and replacing the Privacy Act 1993.

By Mike Worsnop and Tom Swindells - 6 Jul 2020

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Choosing an executor for your Will - a trap to be wary of

Choosing an executor for your Will - a trap to be wary of

If the executor of your Will or administrator of your estate is an overseas person, they must apply to the Overseas Investment Office for an exemption for any residential property to be transmitted to them. Changes made in October 2018 to the Overseas Investment Act 2005 (OIA) mean that an estate with an overseas executor/administrator is likely to be affected by the regime.

By Steven Lee and Rika Louw - 15 Jun 2020

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Relief for Borrowers under the Property Law Act

Relief for Borrowers under the Property Law Act

As earlier signalled by the government, the Property Law Act has now been amended to the extent that a borrower under a mortgage now has 40 working days (previously 20 working days) after being served with a Property Law Act Notice for breach of a loan agreement, to remedy the breach.

By Tony Johnson - 1 Jun 2020

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Staff redundancies - how to avoid some of the common pitfalls

Staff redundancies - how to avoid some of the common pitfalls

With economists predicting a significant economic recession, it may be tempting for business owners to start reducing staff numbers. This will be particularly so for those businesses who have been relying on the wage subsidy to pay their employees' wages. However, it is unlikely that simply relying on a potential looming recession will justify making employees redundant in the eyes of the law.

By Claire Mansell - 25 May 2020

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Separation, asset valuation and Covid-19

Separation, asset valuation and Covid-19

Covid-19 has reduced the incomes of many and undermined the value of the family home, business and investments. These effects have made it especially challenging for separated couples attempting to resolve their relationship property issues.

By Dharsh Nanayakkara - 22 May 2020

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What are my entitlements if my employer is receiving the Wage Subsidy?

What are my entitlements if my employer is receiving the Wage Subsidy?

The government's Wage Subsidy Scheme is intended to assist businesses retain employees during the COVID-19 crisis by helping the employer to fund those salaries and wages. The scheme has now been extended for a further eight weeks for businesses that meet the new, more stringent eligibility criteria. Businesses will be able to apply for the extended subsidy from 10 June 2020.

By Aimee Elia - 18 May 2020

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