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Vicki Ammundsen is presenting a webinar on Beneficiary Rights on 20 August 2014 at 10.30am. This webinar will provide an in-depth study of the often over-looked trust subject of beneficiaries and their rights. This webinar, which will conclude with a question and answer section, will utilise a case study to highlight beneficiary’s rights and how these … 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
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
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
The common intention constructive trust is the hot and hip new remedy in the arsenal of the savvy trust lawyer. So perhaps it is not surprising that when A lister Sally Ridge fell out with her equally sociable partner that such a claim might be made. The genesis of the claim derived from some restructuring … Continue reading
Trusts, like relationships, are often settled when the future seems rosy and the possibilities are endless. When the relationship dream comes to an end, all too often so does the dreams the settlors had regarding the trust and the trust property. The difficulty where parties cannot make their own decisions, as painful as they may … Continue reading
Marriage break ups are messy. You don’t usually need to scratch much below the surface to find that out. Who said what unbelievable thing. Who did what unbelievable thing. Who slept with a party outside of the union. We’ve all seen it / read about it (maybe talked a bit more about it than we … Continue reading
The case of Dever v Knobloch is not especially new. However, it is surprising how many times I have looked back to refer to it. The facts of the case are not particularly interesting – essentially no more than another family dispute where the existence of a discretionary trust does not forestall expectations of equal … Continue reading
When vendor and purchaser are associated companies the amount of secondhand goods credit that can be claimed is limited to the lesser of the: GST included in the original cost of the goods to the supplier [GST] tax fraction of the purchase price, and tax fraction of the open market value of the supply. The tests of … Continue reading
About half of all New Zealand registered charities are trusts. Some settled on carefully considered terms, some not so much. The problem when a Charitable Trust needs amendment as it cannot fulfil its original purposes (no matter how arcane) is that unlike discretionary family trusts, charitable trusts cannot necessarily be varied by the trustees at … Continue reading
Matters of Trust 