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Retiring trustees are commonly indemnified by the continuing trustees for costs that might arise in the future relating to the trusteeship. An example where resort might be made to such an indmenity is when a retired trustee is later named in proceedings relating to the time of the trustee’s tenure. Where the indemnity is from the continuing trustees the indemnity … Continue reading
A freezing order is not a solution to a problem, but rather acts in the nature of ensuring assets cannot be disposed of so that a future judgment might be of no value. Given the propensity of New Zealanders to have assets held in trusts, it is perhaps refreshing to be able to discuss a … Continue reading
The Court of Appeal has upheld the High Court decision in Glover No 2 Limited v Glover Trust Limitd et ors that a deed of bare trust that was entered into only to avoid a tax liability was a valid document and did not represent a sham. The deed of bare trust was entered into to … Continue reading
It is not uncommon for discretionary trusts to varied with the assistance of the court, which is provided for in the Trustee Act 1956 (s 64, 64A). However, the recent decision in the Matter of the Estates of Earl and Beverley Stick highlights the fact that s 64A can also be used to vary will trusts … Continue reading
Acting as a trustee is a tricky business that requires the juggling of a lot of balls. Trustees looking for some digestible reliable information might like to familiarise themselves with this e-book (see my interview at p. 43 – Managing Beneficiairies and Their Expectations). See http://trusteesupport.co.nz/10-minute-trustee-success/
Matters of Trust 