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Powers of attorney are regularly granted so that one person can act on another person’s behalf. The granting of power to an attorney can facilitate transactions and represent a practical solution in many personal and business situations. However, the granting of unfettered power can be abused. The recent decison in Lines v Pikia provides a … Continue reading
There was a little story in the Herald today. Well a little story, but some interesting numbers. The story was about former National Bank personal manager Mr Cooper who admitted 41 criminal offences that related to the theft of nearly $1milllion (a reasonably big number) and some related money laundering. The theft happened over a period … Continue reading
I enjoyed a spirited discussion tonight regarding the role of trustee and whether it is sufficient for one of a number of trustees to manage the trust and make all decisions regarding distributions provided that reports were made to the other trustee. Given the duties of management and accouting that trustees have and the obligations … Continue reading
Previous blogs have chronicled the lamentable mess that results when trusts settled to benefit parties and their children become deadlocked when the same parties fall out of favour with each other. So what are the parties to do when they remain unwilling co-trustees after the love has gone? One option is to seek the assistance … Continue reading
The discussions around entitlements to a residential care subsidy increasingly take on the status of urban myths. Ayres Legal is presenting a seminar with plain English advise regarding the effect gifts to trusts and other matters have regarding entitlements to residential care subsidies. The seminar will be held on 16 April at the Epsom Community Centre. To … Continue reading
Matters of Trust 