We advise trustees, beneficiaries, executors and families on family trusts and on the administration of estates. Both areas changed a good deal in recent years, and a trust set up in the 1990s or 2000s is often not doing what its settlors think it is doing.
Family Trusts
The Trusts Act 2019 applies to every family trust in New Zealand. It sets out mandatory duties that cannot be contracted out of, requires trustees to keep proper records, and starts from the position that beneficiaries are entitled to basic information about the trust. Trustees who have not held a meeting or signed a resolution in a decade are exposed, and in practice many are unaware of what the Act now requires of them.
We help with:
- Reviewing existing trusts to check they still serve a purpose and that the trust deed still works
- Trustee duties, resolutions, minutes and annual record keeping
- Appointing and retiring trustees, including where a trustee has died or lost capacity
- Transferring property into or out of a trust, and the conveyancing that goes with it
- Variations, resettlements and winding a trust up where it no longer earns its keep
- Advice to beneficiaries about their entitlements and requests for information
Not every family needs a trust. If yours no longer does anything for you, we will say so and deal with winding it up properly rather than leaving it to drift.
Talk to our friendly team
Estates
When someone dies, their estate needs to be gathered in, debts and tax attended to, and the remainder distributed to the people entitled to it. Where the estate holds a property or assets above the bank thresholds, that means applying to the High Court for probate, or for letters of administration where there is no will.
We act for executors and administrators from start to finish – the application to the Court, notifying banks and KiwiSaver providers, selling or transferring the family home, dealing with the final tax position, keeping estate accounts, and distributing to the beneficiaries. Because we do the conveyancing in-house, the sale or transfer of the property is handled by the same office running the estate.
Prices for our trust and estate matters services
| Family Trust (includes Wills) | $2,350 |
| Trading Trust (including trustee company formation) | $2,450 |
| Gifting to Trust (one person) | $395 |
| Gifting to Trust (two persons) | $450 |
| Other trust work or advice | Ask for an estimate |
|
Change of Trustees (with new loan documentation) |
$1,790 |
| Change of Trustees (with mortgagee consent) | $1,490 |
| Simple Probate Application (excluding court costs) | $1,850 |
| Deceased estates – Estate Administration | Ask for a guideline price |
| Transmission | $845 |
Trust and Estate Matters FAQ
See related questions and quires related to Trust and Estate Matters.
Do I still need my family trust?
Many trusts were set up for reasons that no longer apply, and the compliance obligations under the Trusts Act 2019 are real. A trust can still be very useful for protecting assets from relationship property claims, for succession planning across generations, and for holding property for blended families. The answer depends on what you own and why the trust was established. A review is usually a short piece of work and it either confirms the trust is worth keeping or tells you it is not.
What do trustees actually have to do under the Trusts Act 2019?
Know the terms of the trust deed, act honestly and in good faith, act for the benefit of the beneficiaries, exercise powers for a proper purpose, and keep core trust documents. Trustees must also consider each year whether basic trust information should be given to beneficiaries. In practical terms it means holding a trustee meeting, recording decisions in writing, and keeping the records where they can be found.
Do beneficiaries have a right to see the trust's documents?
The Act starts from a presumption that basic trust information will be given to beneficiaries, including the fact they are a beneficiary and the names and contact details of the trustees. That presumption can be departed from, but only after the trustees have considered a list of factors set out in the Act. Trustees should not simply refuse a request without taking advice.
Is probate always required?
No. Where the estate is modest and the assets are below the thresholds banks and KiwiSaver providers are prepared to release without a grant, probate may not be needed. If the deceased owned a property in their sole name or as a tenant in common, probate or letters of administration will be required before it can be sold or transferred.
How long does it take to administer an estate?
A straightforward estate usually takes six to twelve months. Probate itself often comes through in a matter of weeks, but the sale of a property, final tax returns and the period for claims against the estate all take time. Executors are generally advised not to distribute for six months from the grant of probate, because claims can still be brought in that window.
Can a will be challenged?
Yes. Claims can be brought under the Family Protection Act 1955 by family members who say they have not been adequately provided for, under the Law Reform (Testamentary Promises) Act 1949 where work was done in reliance on a promise, and under the Property (Relationships) Act 1976 by a surviving spouse or partner. Time limits are short. If you are an executor facing a claim, or you think you may have one, get advice promptly.
Do you act for both the estate and the beneficiaries?
We act for the executors or administrators. If a beneficiary needs their own advice, particularly where there is a dispute, they will need to instruct their own lawyer and we will tell you when that point has been reached.
