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Muir J’s opening observation in Re Hugh Green Trusts is that “The spirit of philanthropy is no better demonstrated in New Zealand than by the Green family.” Matters involving the Hugh Green Trust and the Hugh Green Property Trust (the Trusts), came before the court for directions pursuant to section 133 of the Trusts Act … Continue reading
New Zealand has a large number of charitable trusts, which can be considered a reflection of a strong underlying philanthropic aspect of New Zealand culture. However, management of assets on account of charitable purposes comes at a cost, which means that sometimes smaller charities might better achieve their purposes through amalgamation of consolidation. This was … Continue reading
The Trusts Act 2019 introduces a statutory presumption that trustees will make basic trust information available to every beneficiary or representative of a beneficiary. For the purposes of the Trusts Act: “beneficiary means a person who has received, or who will or may receive, a benefit under a trust (other than a trust for a permitted … Continue reading
New reporting obligations for domestic trusts were introduced by the Taxation (Income Tax Rate and Other Amendments) Act 2020 that will require more disclosure to Inland Revenue. However, an Order in Council is required to set the minimum requirements for this disclosure. Tax policy officials are now seeking feedback on these requirements, which are set … Continue reading
In the matter of The Piedmont Trust and the Riviera Trust relates to an application for the Jersey Royal Court to approve the final distribution of trust assets in circumstances where the beneficiaries are in agreement regarding the termination of the trusts (but where there is disagreement regarding the allocation of the trust assets between … Continue reading
Matters of Trust 