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Jurisdiction failure

Estates can take time to administer and distribute.  Beneficiaries can tire of waiting.  Or they might require funds to sue the executors or other stuff.  The remedies available to beneficiaries depend on part as to whether the estate has transitioned from the administration phase.  See transition from executor to trustee.  This was of relevance in … Continue reading

Powers of appointment thwarted

The decision in Marshall Family Trust may require some reconsideration of how powers of appointment can be exercised following the appointor’s loss of capacity.  In that case the surviving appointor, who was also a trustee, lost mental capacity and quite properly needed to be removed as a trustee. An application was made for a vesting order.  … Continue reading

Amendment proposed to distinguish between personal and trustee capacity

  The High Court decisions, Concepts 124 Ltd v Commissioner of Inland Revenue [2014] NZHC 2140 and Staithes Drive Development Ltd v Commissioner of Inland Revenue [2015] NZHC 2593 have resulted in uncertainty surrounding the application of the voting interest test for corporate trustees .  See Corporate Trustee Associated for GST purposes In both cases, the … Continue reading