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One of the most fundamental pieces of advice to all intending or new trustees should always be to know the trust instrument, typically a deed of trust. It sets out the terms of the trust including the obligations and responsibilities of trustees, as well as clarifying some of the things they can and cannot do, … Continue reading
Pisidia Holdings Limited v Darby relates to an application to lapse notices of claim lodged against the title of seven properties following the end of the relationship between John Darby and Kristen Darby. The land in question was owned as to a 2/5th share by Pisidia Holdings Limited (Pisidia), the shares in which are held … Continue reading
Mr Brownsea purchased a property in the names of himself and Ms Malit in the hope that a relationship would eventuate. It did not. Mr Brownsea wanted the title to the property to vest solely in him, Ms Malit would not oblige. There was no relationship in terms of the Property (Relationships) Act 1976 (the … Continue reading
The Court of Appeal decision in MSD v Broadbent takes a considered and principled approach to whether MSD can assess “notional” income on assets that have been transferred to family trusts. For the background to this case see Notional income knocked back. [Note that the decision relates to part 4 of the Social Security Act 1964 (the … Continue reading
Jellyman v Jellyman is about two children with different views as to what is in their mother’s best interests. The matter came before the court because Mrs Jellyman was a trustee of a testamentary trust under her late husband’s will. Her son Maurice was the other trustee. Mrs Jellyman wanted to sell her home in Hastings … Continue reading
Triezenberg v Mason (As to power and appointment and costs) follows the earlier trustee removal decision. See Buyer’s remorse. By way of background the High Court removed Mr Mason and his incapacitated wife as trustees of two family trusts. A rift had occurred between the competent trustees that had resulted in significant dysfunction. No orders … Continue reading
The Property (Relationships) Act 1976 (the PRA) has primary jurisdiction over relationship property. However, when there is a trust (or trusts) in the mix, the final division of property can be complicated – and often neither side (nor the settlors or trustees who may be caught in the cross-fire) will consider the end result just … Continue reading
Mrs Elizabeth Sandman, executed her final will on 2 December 2010 (the 2010 will) and later died on 30 October 2013. Her estate was subsequently distributed in accordance with that will. Under her will she left her son Mark Sandman the apartment that he occupied. There were also a number of other minor bequests. The … Continue reading
CDT 12 Limited v Millar doesn’t answer the Jasmine question, but does raise considerable doubt as to whether Jasmine applies in New Zealand. For the background to the “Jasmine” issue, see Two trustees go down to the woods … one is discharged, one is not and Exit stage left. Mallon J’s decision on the papers in … Continue reading
In the Matter of the Stingray Trust relates to complex inter-jurisdictional trust proceedings hard in the Cayman Islands. It is noted that the Cayman Islands, like the Jersey and Guernsey Islands provide a wealth of considered trust jurisprudence due to the number of cases heard and the similarity of the underlying statuary and common law … Continue reading
Matters of Trust 