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The Trust Law Committee was originally established to provide extensive feedback on behalf of the profession to the Government on the landmark reforms the Trusts Act. The Committee is comprised of highly experienced practitioners from a range of law firms as well as barristers in sole practice.
Since the reforms gradually came into force, the focus of the Committee has moved to educating the profession on the reforms through an extensive CPD programme and a wide range of LawNews articles.
More recently, the Committee has provided significant input to Inland Revenue on the reporting requirements of domestic trusts. The Committee's expertise in the interface of taxation and trust laws is recognised by IRD and the Committee has since been invited to comment on a range of proposals, including on foreign trust remedials, changes to the bright-line test and rollover reliefs.
It is expected that, in 2023, the Committee will focus heavily on the reform of succession law (anticipating the government will respond to the Law Commission's Final Report 145 by then).
Committee members also involve heavily in the planning and delivery of the annual Cradle to Grave conference, in conjunction with the CPD Committee.
The Committee meets once a month online for an hour on the first Wednesday of each month at 1pm. It is anticipated, when the new term commences in October 2022, the meeting day will change to the third Wednesday of each month at 1pm.
Committee members are expected to contribute in:
Junior Committee members may be invited to assist with drafting and/or conducting legal research.