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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
A trust is settled. The settlors are trustees together with an independent trustee. The settlors’ marriage breaks down and they are no longer able to exercise their trustee powers. Everyone is busy attempting to remove and replace trustees to wrest control of the trust. Inevitably the matter comes before the court. What is the court to … Continue reading
Sometimes settlors of trusts change their mind. Generally it is too late at the point this happens, the deed is literally done. Assets have been transferred, debts forgiven and new relationships and obligations have come into existence. However, what is the position where property is sold to a trust with a debt back, there is an … Continue reading
Settling a trust together seems to be the obvious next step for so many couples. Once upon a time it was monogrammed towels. Now it’s seeing your name on a trust deed. But when the going gets tough the reality is, dividing linen is much easier than dealing with a trust. One of the reasons … Continue reading
The Supreme Court has dismissed an appeal against the decision of the Court of Appeal (upholding the High Court decision) in Glover v Glover where the court found that a ruse was not a sham. Briefly a bare trust arrangement entered into to avoid a tax impost was found to have achieved its object and accordingly … Continue reading
Matters of Trust 