vickiammundsen has written 506 posts for Matters of Trust

Subordinate or insubordinate?

Trust settlors commonly provide a memorandum of wishes to the trustees. However, the extent to which the trustees are bound to follow these wishes is unclear. The traditional role of the settlor in the family trust has been simply the making of an initial settlement onto the trust, to be held by the trustee or … Continue reading

Memoranda of wishes

A nice idea or a reliable and permissible direction to trustees? Join Vicki Ammundsen to hear her views on memoranda of wishes:

Time moves on

The decision in Enright v Enright has been successfully appealed and cross appealed (in part).  The fundamental conclusions reached in the High Court have been upheld, but with some significant finessing.  the Limitation Act defence has been overturned on the basis of a reasonable assessment of when a person in the applicant’s situation, with comparable education … Continue reading

Track changes indicative of intention

Wills that do not meet the requirements of the Wills Act 2007 as set out in s 11 of that Act can be validated pursuant to s 14 of the Wills Act.  As noted in Estate of Phillips at [25], “The critical enquiry is whether the documents does any or all of the things described … Continue reading

A Little guidance on s 182

Section 182 of the Family Proceedings Act 1980 empowers “… the courts to review a settlement and make orders to remedy the consequences of the failure of the premise on which the settlement was made” in circumstances where a nuptial settlement has been made upon a trust of which either or both of the spouses … Continue reading

Shaky Ground

Grand View Private Trust Company Ltd v Wong considers whether the exercise of a power to add a beneficiary (subsequent to which the entirety of the trust’s significant assets were transferred to that beneficiary) is valid. By way of background, the former individual beneficiaries of a substantial private discretionary trust sought to a challenge the … Continue reading

Charitable Control

The Diocesan School  Cayman investmentcontroversy invites consideration of what it is that a charity is and does.  Registered charities receive tax concessions and commonly also receive donations and bequests.  The donors may perceive a higher level of accountability or investment caution, as a result of that charitable status. However, that assumption (even if founded on the belief … Continue reading

Empty Table

In the Matter of the Representation of First Island Trustees Limited raises interesting considerations about the position of a trustee who finds itself in a situation where the family who was to benefit has effectively disavowed the Trust.  The decision also highlights the practical aspect of anti-money laundering obligations and client due diligence where there … Continue reading

Family First to keep the home fires burning

In the first significant decision since the Supreme Court decision in Greenpeace the majority of the Court of Appeal has allowed the appeal in Family First New Zealand v Attorney-General against the decision to de-register it as a charity.  The High Court had previously considered that Family First did not qualify for registration as its … Continue reading

Well intentioned

Miller v Cregten touches on the vexed issue as to settlor’s wishes to ensure that only identified beneficiaries benefit and that: “if a beneficiary is married, in order to protect the beneficiary from thepossibility of a matrimonial property claim in the event of a breakdownof his or her marriage, you should take into consideration the … Continue reading