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Right to trust information

This category contains 24 posts

Disclosure denied

In Jacomb v Jacomb Cooke J provides a considered assessment of disclosure in the context of a troubled and disenfranchised beneficiary. The case highlights the need for careful analysis of facts when seeking disclosure, the relevant principles, and importantly given that the Trusts Act 2019 will come into full force and effect on 30 January … Continue reading

Let the children be heard

Trusts and relationships can make for very poor bedfellows. The temptation to remove a former spouse or partner as trustee or beneficiary or to appoint or remove a professional presumed to favour one side over the other (whether or not this is the case) can be tempting. Similarly fraught can be involving children in the … Continue reading

Bye bye beneficiary?

Given the new presumption in the Trusts Act 2019 that, with effect from 30 January 2021, trustees will give basic trust information to every beneficiary, it can be presumed that many trustees will be looking to cull trust beneficiaries to ensure trusts comply with the settlor or settlors’ intentions, whether or not these are expressed … Continue reading

A fishing we shall go?

Kirby v Kirby is an application for tailored discovery in the context of a Family Protection Act claim in circumstances where the deceased left the residue of his estate after payment of expenses to a trust, the Jubilee Trust (the Trust).  The application, which was made by one of the deceased’s two children is defended by … Continue reading

Beneficiaries tracing misappropriated funds

  Thomas Young sued (as a trustee and as a beneficiary) the widow of the former trustee John Hunt allegeing the theft of $146,175 from the Twiss Family Grandchildren’s Trust. The background is set out as follows at [3] to [6]: “[3] The Trust was settled on 1 April 1991. The settlor was Mr David … Continue reading

The great NZ trust crackdown

The way many New Zealanders manage their assets is set to change dramatically. Reforms to the laws governing trusts in New Zealand, due to come into force on 30 January 2021, are expected to trigger a massive reduction in the number of trusts. The Ministry of Justice estimates there are currently between 300,000 and 500,000 … Continue reading

Disclosure vs Discovery

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

Beneficiary rights – never the twain shall meet

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

David and Goliath?

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

The blessing of the court

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

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