Amicorp New Zealand

The New Zealand Trust Act 2019 allows for special Trust advisors. Previously these special Trust advisors were known as advisory Trustees; however, the terminology was changed so as not to confuse the role of the actual Trustee.

A special Trust advisor:

  1. May advise the Trustee on any matter relating to the Trust; but
  2. Is not a Trustee of the trust and does not have the powers or duties of a Trustee.

They would typically be appointed by specific provision in the Trust deed or by the person who has the power to appoint and remove Trustees or the New Zealand court.

If there is a special Trust advisor, a Trustee:

  1. May consult the special Trust advisor on any matter relating to the Trust; and
  2. Is not required to follow the special Trust advisor's advice; and
  3. Is not liable in a proceeding brought by or on behalf of a beneficiary for an act or omission the Trustee makes as a result of following the special Trust advisor's advice unless the act or omission involves the Trustee's dishonesty, willful misconduct, or gross negligence.
So why might this be useful?

There has been a reduction in personal protectors due to the impact of international reporting, including CRS. Personal protectors can often become under heavy scrutiny from their domestic tax authorities as a result of information exchanges. This is due to how they are treated under various regimes, as they are perceived as having a type of control when in most cases, they do not.

The special Trust advisor is different from a protector. They have no veto power or control; they are there to guide the Trustee. In reality, the Trustee does not need to follow their advice, but it would be highly persuasive in most cases if advice is in line with the intentions of the settlor and the spirit of the Trust deed. 

Given the special Trust, the advisor does not have any veto power or control; they would not be reportable under most regimes, including CRS. This could bring comfort to those who are currently personal protectors.

Please get in touch with any Amicorp Trust specialists if you have any queries about Amicorp Trust Services, or contact David Willis directly (

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