New Zealand’s Trusts Bill: giving beneficiaries free rein to information or just business as usual?

The release of a select committee report on the Trusts Bill (the Bill) from the New Zealand Parliament1 has caused some concern, primarily due to its provisions covering the disclosure of information to beneficiaries. Since the mid-1950s, trust law in New Zealand has been left to develop through the courts. Case law has produced an […]

Foundations in the wild west: the Wyoming Statutory Foundation Act

Traditionally a civil law concept, the use of foundations as wealth management and succession planning vehicles is gaining popularity in common law jurisdictions. Wyoming is the second state in the USA to adopt common law foundation legislation that will allow for the formation and administration of statutory foundations. The Wyoming Statutory Foundation Act, effective 1 July 2019, combines elements of well-established trust and corporate law in Wyoming with classical elements of foundation legislation found in civil law jurisdictions, while also providing access to Wyoming’s privacy and asset preservation laws.