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General

Current trust issues

Trust law is evolving at an increasing pace as it responds to case law developments, societal and legislative challenges. Beneficiaries are more aware of their rights. Trustees of discretionary trusts have wide powers, but an increasingly wide range of considerations take into account before these should be exercised. The Trusts Act 2019 will not be in full force from 30 January 2021, which means that there are significant drafting and management issues as we progress through the transition period.

Advisers and trustees need to be informed regarding the changing trust landscape and equipped with knowledge so as to be able to advise settlors, trustees and beneficiaries.

On 11 December 2019 Vicki Ammundsen will present a webinar that will provide an up to date consideration of the issues facing trustees and their advisers in a rapidly changing trust landscape.

The webinar, which will conclude with a question and answer section, will consider:

  • Drafting trust deeds in light of the Trusts Act 2019
  • Winding up trusts to avoid disclosure obligations
  • Beneficiary current accounts – tax considerations and trustee obligations
  • Beneficiary disclosure and communications
  • Reliance on memoranda of wishes
  • Ineffective trustee retirement and down-stream consequences, and
  • An overview of key trust decisions in 2019 from cases including:
    • MSD v Broadbent (residential care subsidies)
    • Triezenberg v Mason (removal of trustee and appointor)
    • Addleman v Lambie (disclosure)
    • Waho v Te Kōhanga Reo National Trust (properly incurred costs)
    • Pool v Summerlee (the Rule in Saunders v Vautier)
    • CDT 12 Limited v Millar (effective retirement)
    • Enright v Enright (adherence with trust terms)
    • Brownsea v Malit (resulting trust)
    • Taylor v Naera (tracing)

For more information see Trust Series 2019 – Current Trust Issues

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