The purpose of this Act is to change and update New Zealand trust law. You will find the main ideas of trust law explained in this Act. This includes setting out the core principles of trust law, which are the basic rules that govern trusts.

This Act also provides default rules for managing trusts, which are used when there are no other rules in place. You can think of these rules like a set of instructions that help people manage trusts. The Act also explains how to resolve disputes related to trusts, which means figuring out problems that arise when people disagree about a trust.

The Act aims to make trust law more accessible, which means making it easier for you to understand. This is done by explaining the law of trusts in a way that is clear and easy to follow, and by providing mechanisms to resolve trust-related disputes, as mentioned in section 3.