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vickiammundsen

vickiammundsen has written 459 posts for Matters of Trust

Between death and probate

Christie v Foster relates to complex inter-jurisdictional matters.  However, one aspect of the case relates to the more prosaic question regarding the role of the executor and when this takes legal effect.  This is considered  in Christie v Foster as follows at [62] to [66]: [62] The Irish executors have applied for probate, but their … Continue reading

Donation tax credit limitation

  On 3 March 2020, Supplementary Order Paper (SOP) No 453 was introduced into Parliament. This SOP proposes a number of remedial and technical amendments to the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Bill. One of the proposed amendments is an amendment to to s LD 3 of the Income Tax Act 2007, which … Continue reading

Whose advice is it?

The Supreme Court decision granting leave to appeal the Court of Appeal decision regarding the disclosure of legal opinions and advice obtained by the trustees in Addleman v Lambie Trustee Limited (see Rights in information prevail) raises the thorny question, regarding how advice belongs to, or must be disclosed to, when legal advice is sought … Continue reading

Trust fundamentals

Trusts are a common form of asset ownership. However, the rights and obligations associated with trusts, and even simple matters such as contracting with trusts are not always well understood. On 26 February 2020 Vicki Ammundsen is presenting a webinar on trust fundamentals.  The webinar will introduce basic trust concepts and will use a case … Continue reading

A judge’s insight on Beddoe applications

Ten years ago, very few New Zealand practitioners were aware of or made use of Beddoe applications. More recently Beddoe applications have become increasingly important for trustees who are wanting to protect themselves in regard to costs in trust litigation. However, there are some very important points trustees need to bear in mind regarding Beddoe … Continue reading

Expedient

Re Eliza White Board of Management considers the practical aspects of laying a scheme before the Court when a charitable trust’s purposes become “no longer possible, practicable or expedient.” While fact specific the case provides useful guidance as to the matters to traverse in such applications. References: Re Eliza White Board of Management [2019] NZHC … Continue reading

Fair is a relative concept

  Families are funny old things.  Blood is thicker than water (fact).  But when it comes to who should get the most after Mum and Dad have died, perceptions can become quite  skewed. In Ngui v Ngui the surviving parent left her estate to her four children in equal shares.  So far so fair.  However, one … Continue reading

The distinction between discovery and disclosure

The distinction between discovery and disclosure can appear esoteric and academic.  However, as identified in Hoeberechts v Sprott each serves a different function, the purpose of which warrants the relevant reflection.  The temptation, whichever is being sought is overreach.  Importantly less truly can be more, and more, can result in so much less that forward propulsion … Continue reading

Barely there

Bare trusts are not uncommon and can arise intentionally or otherwise, as well as by an express declaration of trust, whether written or oral.   However, the nomenclature can extend to a range of circumstances where it is necessary to consider the nature of the trust and, if a bare trust, the bare trustee’s duties. In … Continue reading

The Kiwi way

  New Zealand Herald data journalist Keith Ng estimates that 325,000 New Zealand properties have trusts involved in their ownership structure.  See In properties we trust – it’s the Kiwi way by Anne Gibson (New Zealand Herald 18 January 2020).  However, what the true number is cannot be definitively determined as s 153 of the … Continue reading

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