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What costs can trustees be indemnified for if their term as trustee has expired without the trustee realising? If future appointments and other actions of the trust have been done invalidly and require the assistance of the court to validate, can the trustees be indemnified for their reasonable costs from the trust fund? Apparently yes. Background The … Continue reading
The moral dimension of trusteeship arises in many contexts. The recent New Zealand court decisions concerning information obligations to beneficiaries, and the way this is dealt with in the new Trusts Bill, highlight the difficulty of judging what information is too much or too little to disclose. However, general principles on disclosure bypass the consideration … Continue reading
Editor’s note: The Court of Appeal decision was released on 19 April 2018. See Artist in stoush over mother’s will ordered to pay after accusing lawyers of dishonesty. High Court Decision In Sandman v Giboney, Mr Sandman claims that a law firm knowingly assisted a breach of trust by taking will instructions and assisting in … Continue reading
Dr Love, was the Executive Chairman and a trustee of the Wellington Tenths Trust (the Trust). The Trust manages assets for the Maori people of the Wellington and Taranaki regions. The trustees of the Trust developed a “partnership” business model whereby the Trust retained ownership of Trust land, but that development was carried out by third party property developers. … Continue reading
The Trusts Bill was introduced to Parliament on 1 August 2017. The Bill follows the same format as the earlier draft but differs in a number of parts. The Trusts Bill comprises 168 sections and 5 schedules. The policy objectives of the Bill include the objective of providing “clear, simple, and accessible trust law”. The … Continue reading
Matters of Trust 