• Home
  • Services
    • Employment Law
    • Corporate & Commercial Law
      • Business or Share Sale & Purchase
      • Business Finance
      • Joint Ventures & Co-Ownership Agreements
      • Commercial (Contracts, Policies & Terms)
      • Corporate Restructuring
      • Privacy
      • Technology & IP
    • Property Law
      • Commercial Conveyancing
      • Residential Conveyancing
      • Residential Property Financing
      • Subdivisions & Land Developments
    • Trusts & Succession
      • Trust Establishment
      • Trusts Administration
      • Wills
      • Powers of Attorney
    • Family Law
      • Legal Aid & Family Legal Aid Advice Service
      • Adoption
      • Family Violence
      • Caring of Children
      • Relationship Property Agreements
    • Immigration Law
      • Visa Applications
    • Estates
      • Estates Administration
      • Advising Beneficiaries
      • Estates Litigation & Claims
    • Elder Law
      • Retirement Villages
      • Reverse Equity Mortgages
      • PPPR Applications
    • Insolvency & Debt Recovery
      • Corporate Insolvency
      • Debt Recovery
  • About Us
    • Your Team
  • Resources
  • Payment
  • Blog
  • Contact
The Auckland District Law Society (ADLS) Lease Has Changed
June 19, 2013
Commercial Leasing in a Seismic Country – Tenants Issues
September 18, 2013

Trustee vs Executor

June 19, 2013
Categories
  • Estate Administration
Tags
  • Powers of Attorney
  • Wills

When making your Will, it is likely you have appointed one or more people an Executor and Trustee; they may be friends, family members or perhaps a trusted professional. They do not however, need to be the same person.

An Executor is the person whom you appoint in your Will to administer your estate and carry into effect the provisions of your Will. They will be responsible for gathering in your assets, meeting liabilities and distributing the assets. This is largely governed by the Administration Act 1969. A number of Wills, however, do not provide for all assets to be distributed immediately. Examples include providing for young children to inherit when they reach a fixed age, or providing life interests to a partner. It is in these situations that the party holds the assets as a Trustee, and is governed by the Trustee Act 1956.

The role of Executor is often completed over a short duration, whereas a Trustee may have ongoing responsibilities for many years to come. When choosing your Executors and Trustees, consider the roles and whether in your case, a separate Trustee should be appointed for the ongoing responsibilities after the initial administration.

Related posts

January 27, 2020

Stay in the loop as a trustee! Major changes coming 2021.


Read more
October 31, 2019

Thinking About Becoming a Trustee?


Read more
May 24, 2019

Appointing Attorneys to Act on Your Behalf


Read more
Wakefields Lawyers

CONTACT US

04 970 3600
info@wakefieldslaw.com

FOLLOW US

NEWSLETTER SIGN UP

  • This field is for validation purposes and should be left unchanged.

MENU

  • Privacy Policy
  • Website Terms of Use
  • Terms of Engagement
© 2020 Wakefields Lawyers. All Rights Reserved. Wellington SEO by Media Giant.
  • Home
  • Services
  • About Us
  • Resources
  • Payment
  • Blog
  • Contact