-
Subscribe
Subscribed
Already have a WordPress.com account? Log in now.
If it were a movie the title might be: “Rosebud 2 – the edifice collapses further. The case of Rosebud Corporate Trustee Limited v Bublitz focused on whether the trust for which Rosebud Corporate Trustee Limited (Rosebud) acted was a sham. As a result of the court finding the trust to be a sham an agreement that Rosebud Trust purported to … Continue reading
The dispute over Huka Lodge (see the Fight Over Huka Lodge) highlights an element of certain trust-based relationships that can be overlooked. This is the ability for subsequent trust-related disputes to survive time-barring due to the passage of time. Michael Kidd and Alexander van Heeren were former partners in a successful partnership that amassed significant wealth … Continue reading
The Review of the Law of Trusts started back in 2002 with a discussion document followed by a small paper entitled Some Problems with the Law of Trusts. In the way the use of trusts has since grown, so too did the review. The review morphed to a three-stage review of trusts: stage 1 (the current stage) is a comprehensive … Continue reading
Family trusts are tricky things. The more so when there are loose ideas about maintaining and benefitting beneficiaries; but no real means to do so. Commonly such trusts own a single asset and require regular financial or other assistance from the settlor or involved trustees. Such was the position of the trust settled by one Mrs … Continue reading
Much is written about breach of trust, and the liability that can flow. However, a sensible question, might be, is a breach of trust always fatal? Can trustees have a go at getting it right? As it happens, yes, in some circumstances. as is demonstrated in Masters v Stewart they can. In that case, a capital distribution … Continue reading
The latest instalment of the long-running saga involving one Mrs Colebrook, the trustees of the Stokes Family Trust and the trustees of the RM Colebrook Family Trust has held that the trustees of the Stokes Family cannot sustain caveats lodged against the titles of the properties owned by the trustees of the RM Colebrook Family Trust. Background … Continue reading
There are a large number of charitable trusts in New Zealand. The reason for this is not well understood: see How Charitable is New Zealand for some insight. One of the issues that arises, perhaps more in New Zealand than elsewhere, due to the number of charitable trusts, is that the trustees are not always … Continue reading
Claims against trusts are on the increase the reasons for which are various and relate, in part to the number of trusts in existence in New Zealand and in part to a growing appreciation and awareness as to what options a disgruntled beneficiary, settlor, trustee or creditor might have. One area that has produced much … Continue reading
It is commonly said that there is no symmetry between trust law and tax law. There is a similar disconnect in respect of the appointment and removal of trustees, powers of attorney contained in a deed of trust, regular and enduring powers of attorney. This topic has been recently explored in the context of dementia and aging … Continue reading
I was asked this week, in a round about way, whether trusts “still work”? The question was actually couched as to whether I was aware of any statistics about how many trusts are wound up. I am not aware of any statistics along those lines. However, from my own experience I still settle more trusts … Continue reading
Matters of Trust 