If you are a Trust Settler or Trustee it will pay not to miss New Zealand’s premier accounting professionals, Tauranga-based Tutbury & Associates Limited, newly announced seminar all about the updated Trusts Act 2019.
For the first time since the 1950s, New Zealand trust law is being reworked. “If you’re a Trust Settler or Trustee you should be now administering your trust in line with the new law changes from 30 January 2021,” advises Kelly Tutbury, Accountant and Managing Director at Tutbury & Associates Limited.
Tutbury & Associates are offering a FREE seminar on the recent law changes to the Trustee Act 1956 which has now been replaced by Trusts Act 2019 which was passed into law on July 30 2019.
This seminar will take place on the Wednesday, July 29, 2020 from 5:30pm to 7:00pm at Club Mount Maunganui, 45 Kawaka Street, Mount Maunganui.
The Trusts Act 2019 puts into law a spotlight on the duties of trustees and requires and requires greater transparency around trust activity for Trustees and Beneficiaries.
“This includes compliance requirements and making sure Beneficiaries are aware that they are beneficiary of a trust and regularly providing them information without them having to request it,” says Kelly.
“For Trusts existing before the Trusts Act, it could mean that compliance duties will increase the time and cost of administering some trusts,” adds Kelly. This means that some current trusts are no longer cost-effective. Also the required greater transparency will put things in the public space that some trust owners might prefer to keep private.
The new Trusts Act 2019 comes into force at the end of January 2021 so make sure you are ready for the changes by attending Tutbury & Associates Limited free Trust seminar. Simply head over to the Tutbury & Associates Limited to reserve your space today. Spaces are limited. https://www.facebook.com/events/2636607426552889/
Contact Tutbury & Associates Limited:
Phone: 07 576 2194
Address: 23 Myres Street Tauranga