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Corporate trustees are a common feature of modern trusts. Professionals increasingly act through corporate trustees to address concerns over liability. While some concern has been raised about the wisdom of utlising uncapitalised corporate trustees – the practice is widely acknowledged and accepted. Where views diverge is on when or whether corporate trustees should accept multiple appointments. Unless … Continue reading
It is fundamental to the role of a trustee that the trustee must act in the best interests of all of the beneficiairies. This obligation can be sorely tested when the trustees are separated spouses or partners. Many do not pass the test. When trustees cannot work together the prudent course of action is for … Continue reading
There is little that is attractive about aging. However, it is a fact of life that must be faced. In the life of a trust this fact must also be faced squarely and pragmatically. Trustees are the “legal” face of a trust and as such own the trust property. Trust fundamentals. So far so good. … Continue reading
An order for examination can be sought after judgment has been obtained agains a debtor to determine the debtor’s means. Where an order is made the debtor is brought before the Court and examined about his or her financial situation. However, it is not always appreciated that if the judgment relates in whole or in part to … Continue reading
You can imagine it can’t you? Your client has died and so you get the will from deeds. You prepare the probate application and attend on your client’s surviving spouse. You talk gently about the loss. The probate documents are ready for submitting and then you happen to notice that the survivor’s signature is very … Continue reading
The facts ma’am, nothing but the facts. When the facts relate to a contract with trustees, the proposition becomes the trustees ma’am – nothing less than all the trustees. Trusts are not legal entities. Regardless I commonly see contracts between the A Trust and another contracting party. This is a dangerous practice because how is … Continue reading
The separation between settlor and trust and the need to appreciate this is a common theme. See for example My trust is my creature. However, this does not mean that the existence of a trust can be disclaimed when convenient to do so. This issue is canvassed in a reserved decision of Judge AA Sinclair … Continue reading
While in the context of trusts it is common to talk of the three certainties, in life it is often said that the only certainties are death and taxes. The decision in The Foundation For Anti-Aging Research & Anor puts a new spin on this adage. This case relates to two failed applications for registration … Continue reading
Residential care subsidies and trusts are a topical issue that explores social tolerances and personal expectations. As the numbers of trusts increase, perhaps not surprisingly the policy that govern residential care subsidies is becoming more robust. Vicki Ammundsen is presenting a comprehensive webinar on 21 May 2014 at 10.30am. Topics covered will include: Numbers of applicants, … Continue reading
Trusts involve a lot of just that, trust. Once settled, the settlor has limited, if any, real control. This is difficult for many settlors to deal with due to misunderstandings and misinformation regarding how trusts work. By way of illustration – the earliest trusts, called a use, can be dated back to medieval England. At … Continue reading
Matters of Trust 