The Trusts Act (2000)

The Trusts Act 2000 is a law that sets the rules for creating and managing trusts in New Zealand. A trust is a legal arrangement where one person (the trustee) holds assets on behalf of others (the beneficiaries). The Act clarifies how trustees must act honestly and responsibly, outlines their duties, and provides mechanisms for beneficiaries to ensure proper management. Its goal is to promote transparency, protect beneficiaries’ interests, and standardize trust administration, making it easier and safer for individuals and organizations to establish and operate trusts within a clear legal framework.