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Fox v Fox relates to a claim by an executor of the estate of Mrs Fox who required the assistance of the Court to conclude the administration of the estate by selling land and distributing the proceeds of sale according to a will. The executor’s impediment to doing so was that two of the properties … Continue reading
The date by which the Trusts Bill is to be reported to the House by the Justice Committee has been extended a second time, now to 1 October 2018. References: Business of Select Committees — Reporting Dates
Land owned by ten different owners as tenants in common was sold to a buyer who was required to apply for resource consents to subdivide the property and to obtain new titles. There was a dispute and following a settlement conference Harrison J ordered that on titles being issued the owners were to transfer one … Continue reading
By her will, Emma Ann O’Connor, who died in December 1937, left the residue of her estate on trust for certain specific purposes: “(a) For the repair and painting of the Waimea Catholic Church at regular intervals as may seem necessary and expedient to my said trustees; (b) In the upkeep and maintenance of the … Continue reading
Capacity is fundamental to the legality of a person’s decisions. This is relevant in the context of wills, asset and estate planning, and trusts. For practical guidance on the assessment of capacity by professionals see Clients with incapacity – Issues for Professionals. References: Capacity Tools
Professional trustees are carrying the can! There have been a number of recent cases where professional trustees have been financially caught out where the trustee is held liable, although not in breach of trust, or fails to be entitled to recover costs or be indemnified from the trust fund. The trustees are all too often … Continue reading
Mackie Law independent Trustee Limited v Chaplow provides a useful consideration as to how closely trustees should follow a memorandum of wishes. The trust in question was settled by Mr Munro who wrote the memorandum of wishes referred to shortly before his death. The primary beneficiary of the trust following Mr Munro’s death, was his … Continue reading
Some disputes have the plots of a war movie. Everything starts fine until the hostilities begin and everything gets messy. Sometimes this just leads to someone carrying out an attack that doesn’t make sense… The defendants in the case of Triezenberg and Dodd v Mason, Alexander and Wendy Mason, were married in 1959 and had three … Continue reading
What costs can trustees be indemnified for if their term as trustee has expired without the trustee realising? If future appointments and other actions of the trust have been done invalidly and require the assistance of the court to validate, can the trustees be indemnified for their reasonable costs from the trust fund? Apparently yes. Background The … Continue reading
The bare facts of Chang v Lee can be summarised as follows: Ms Lee purchases a property in Sunnynook Mr Chang (Ms Lee’s uncle) advances Ms Lee $275,000 of the $566,000 purchase price The advance was not a gift The terms of the loan advance were incomplete Mr Chang made the advance to Ms Lee on the … Continue reading
Matters of Trust 