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 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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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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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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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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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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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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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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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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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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