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It is common for appointment as a final beneficiary to be considered a higher ranking appointment than a disretionary beneficiary. However, what does it really mean to be a final beneficiary? Fundamentally, this might often be no more than the right to receive all or part of the remaining trust assets (if any) when the … Continue reading
V Trustees Limited (the Trustee) was concerned to protect the position of C who was the beneficiary of a trust much diminished due to the actions of her litigious brother, A, whose conduct had caused substantial losses with “no signs of the attacks abating.” The matter came before the Jersey Royal Court on an application … Continue reading
An undischarged bankrupt can only be appointed as a trustee with court consent. In an Application by Peter-Richard Prescott for appointment as a trustee the Court considers an application by a trust’s “Principal Family Member” who holds the power of appointment and wishes to appoint himself as a trustee notwithstanding that he is an undischarged … Continue reading
Kermit the frog sang “It’s not easy being green.” It’s not always that easy being a beneficiary either. The Sesame Workshop advises that the song is about “… knowing who you are, realizing your own worth and dignity, and becoming more content and comfortable within yourself.” Whether this will help any beneficiaries of discretionary trusts … Continue reading
Bundz v Anderson is a costs decision of Associate Judge Lester. The background of the matter, relates to a claim that was brought pursuant to the High Court’s inherent jurisdiction relating to an error made by one trustee of the LC Craighead Family Trust (the Trust), who mistakenly believed that a property in Timaru (the … Continue reading
“Retaining” the trust when a relationship ends is often not as straight-forward as the relevant parties might consider. This is highlighted in Collinson v Collinson & Co Limited where orders were sought for variation to a trust to allow the inclusion of one the settlor’s child and a any future children with his new party. … Continue reading
The question posed by the court in An application by Hoglie Trustees Limited as trustee of the Larry Robertson Family Trust was whether the Larry Robertson Family Trust (the Trust) was void from inception due to lack of certainty as to the Trust’s objects. Relevantly section 15 of the Trusts Act 2019 provide that: As … Continue reading
Rawson v Prescott, which relates to an unsuccessful application for summary judgment on a claim for vacant possession of trust property raises more questions than it answers. The key issue relates to whether trustees are bound to an agreement for the purposes of section 21 of the Property (Relationships) Act 1976, that the trustees were … Continue reading
In New Zealand Beddoe applications are governed in the first instance by the High Court Rules, which do not extend to prospective costs orders by beneficiaries. Representation of VG Trustee Limited re the B Trust (Re the B Trust) considers whether beneficiaries should have their costs met on account of a successful Beddoe application brought … Continue reading
Phillips v Heremaia relates to two sisters engaged in litigation with respect to their father’s estate. Although the matter settled at a judicial settlement conference not agreement was reached with respect to costs, which are the subject of this judgment. The following at [3] and [4] sets the tone for the decision: Rule 15.23 of the … Continue reading
Matters of Trust 