Part 2Express trusts
14Sole trustee cannot be sole beneficiary
A sole trustee of a trust must not be the sole beneficiary of the trust.
Trusts Act 2019
Express trusts
14: Sole trustee cannot be sole beneficiary
"If you're in charge of a trust alone, you can't be the only one who gets benefits from it."
If you are the only trustee of a trust, you cannot be the only person who benefits from the trust. You have to share the benefits with someone else. This rule applies to all trusts, and it is in place to ensure that the trustee is not the only one who gets something from the trust.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7382880.