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Beneficiaries, Beneficiary rights, Disclosure, Discovery

Disclosure within a narrow compass

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 purpose), and includes a discretionary beneficiary”

Accordingly, the classes of persons who can seek trust information are not limited to “current” beneficiaries.

Toogood v Fairfield Trustees Limited is an application for leave to commence a proceeding seeking the following information by way of originating application:

As noted at [5]:

In Toogood the Court is satisfied (as noted at [10]) that “… it is appropriate to grant the applicant leave to proceed under pt 19. The disclosure that is sought is not wide-ranging and the dispute falls within a very narrow compass. The applicant will rely primarily on the statutory provisions in the Trusts Act for the relief sought.”

For a comprehensive consideration of disclosure of trust information pursuant to the Trusts Act 2019 see Trust Series 2021 – Disclosure under the Trusts Act and beyond.

References:

Discussion

5 thoughts on “Disclosure within a narrow compass

  1. Odd. I believed that MoWs were or could be confidential to the Trustees.

    Posted by Simon | October 18, 2021, 12:51 pm
  2. Odd. I believed MoWs to be confidential to the Trustees.

    Posted by Simon | October 18, 2021, 12:53 pm
    • A memorandum of wishes is a core document (section 45(h) of the Trusts Act). Trust information (section 49) means any information regarding the terms of the trust, the administration of the trust, or the trust property; and that is reasonably necessary for the beneficiary to have to enable the trust to be enforced.

      The presumption that trust information will be given on request (section 52) is subject to section 53 (procedure for whether the presumption applies).

      Posted by vickiammundsen | October 18, 2021, 10:57 pm
  3. I tříde to gět thé lawer WHO was dealing with my trust to disclose info and He sent mě info disclosing nothing .

    i talked to him about IT He Said His assistant sent thé Wrong info and Will email IT,He hasent Done so i think He Is hiding something how do gět info im entitled to Aš a benifichery

    Posted by Dion jakich | November 4, 2021, 5:39 pm

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