Is a beneficiary more entitled to trust information pursuant to an application for discovery, rather than pursuant to a an application for disclosure? As a basic principle, courts do not permit discovery as a “fishing expedition.” However, as noted in Gavin v Powell at [41] “… the trustees’ obligations as to disclosure and a beneficiary’s right … Continue reading
In Little v Howick Trustee DL Limited a beneficiary sought a review of trustee decisions and the removal of a court appointed trustee. Perhaps surprisingly, considering the position taken in the Law Commission’s draft Trusts Bill and the Trusts Bill currently before Parliament regarding beneficiary rights, Brewer J found that a discretionary beneficiary had no standing to seek a … Continue reading
Pertinent facts: On first blush Biggs v Biggs has the appearance of a David and Goliath style contest. Nation J refers at [10] to the 2300 pages of documents that have had to be considered and at [11] notes that when claims are pursued “in a particular way, there can be scant recognition of the … Continue reading
Being a trustee is hard, and at times quite possibly boring (to paraphrase from the movie An Education: Emma Thompson and Carey Mulligan). And worse, if you get it wrong the beneficiaries can sue you, no matter how hard a trustee might try to get it right. Fortunately, help is at hand in the form of … Continue reading
As noted by Woolford J in para [1] Addleman v Lambie Trustee Limited relates to “an unfortunate dispute between sisters as to what level of disclosure is appropriate for the affairs of the Lambie Trust (the Trust)…” Prudence and Annette are sisters. In1972 Annette broke her spinal cord diving into a tidal pool in Sydney … Continue reading
The moral dimension of trusteeship arises in many contexts. The recent New Zealand court decisions concerning information obligations to beneficiaries, and the way this is dealt with in the new Trusts Bill, highlight the difficulty of judging what information is too much or too little to disclose. However, general principles on disclosure bypass the consideration … Continue reading
The Supreme court has granted leave to appeal the Court of Appeal decision in Erceg v Erceg, see A step back for beneficiaries or a nil all draw? The approved question is “Should the conclusion that disclosure not be made/required be set-aside?” References: Erceg v Erceg [2016] NZSC 69
When embarking on asset and estate planning, an important but often overlooked enquiry is as to how the next generation will manage the assets (and what those assets might be) and who sensibly should be in charge. Consider the case of Frickleton v Frickleton. In this case one of four sons ends up as the sole executor … Continue reading
The Court of Appeal decision in Erceg v Erceg has provided the Court of Appeal’s view of the correct approach to the disclosure of trust information to beneficiaries. Prior to this Court of Appeal decision in Erceg v Erceg it was settled law in New Zealand that beneficiaries had a rebuttable right to trust information pursuant to the … Continue reading
Beneficiaries of a trust – including a testamentary trust are entitled to information relating to the trust. In the Goodman v Campbell a minor beneficiary’s mother sought appointment as a litigation guardian following an executor’s refusal to provide information about the estate of which her minor son was the sole beneficiary. The trustee of the … Continue reading
