With shares held by individuals becoming increasingly fractionated but shares held in whānau trusts being relatively stable, I foresee a time when these whānau trusts will be major shareholders in trusts and incorporations.
Since 1 July 1993, shares in a Māori incorporation are deemed to be interests in Māori land and unless there’s an exemption, they’re treated the same as Māori land interests. Whānau trusts A whānau trust can be set up at the time of succession.
Documents/Guides-Templates-Factsheets/MOJ0217.7E-SEP21-Succession-Factsheet.pdf (355 kb)
Māori Land Trusts includes a section on whānau and pūtea trusts.
Māori Land Trusts includes a section on whānau and pūtea trusts.
Documents/Guides-Templates-Factsheets/MLC-incorporations-english.pdf (856 kb)
The enclosed terms of trust are an example of a COMPREHENSIVE trust order which you may use for your whānau trust.
Kei ngā Ture i muri mai ngā whakamāramatanga mō tēnei āhuatanga. 9 8 Ngā hea e puritia ana e te pūtea trust/ whānau trust Mehemea e puritia ana ngā hea ki roto i te rōpū kaitiaki pūtea, te rōpū kaitiaki whānau rānei, me whakauru atu ngā ingoa o ngā trusts 14 ki te rēhita hea, me ngā ingoa tāngata nō rātou te whenua.
Documents/Guides-Templates-Factsheets/MLC-incorporations-tereo.pdf (949 kb)
Trustees of whānau trusts vote on behalf of the beneficiaries18 of those shares.
Documents/Guides-Templates-Factsheets/MOJ0217.8E-SEP21-Maori-Incorporations-Factsheet.pdf (370 kb)
For more information visit www.māorilandcourt.govt.nz FORM 23 Rule 12.3 TICK THE APPROPRIATE CHECKBOX: The beneficiaries entitled to succeed have agreed to constitute a Whānau Trust and vest the interests of the deceased into the proposed trustees.
Documents/Forms/MLC-Form-23-Application-Whanau-Trust.pdf (149 kb)
You will also need to provide: a copy of their death certificate or other evidence of death an original or certified copy of the will written confirmation from any spouse or partner who wishes to surrender a lifetime right (if applicable) consents agreeing to include succession by whāngai (if applicable) a completed Whānau Trust application, draft trust order, written consent from trustees, and minutes from the hui agreeing to constitute a Whānau Trust (if...
If those entitled do wish to vest the deceased’s interests into a whānau trust please complete and attach application form 23.
Documents/Forms/MLC-Form-22-Application-for-succession2F.pdf (512 kb)
