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Ryan v Lobb relates to the interpretation of a resettlement clause contained in the deed of trust for the Lothbury Trust (the Trust) that expressly provided for a resettlement on written notice in the event that the Settlors separated, or their marriage was legally dissolved. Such notice was given by Ms Ryan in 2017 following … Continue reading
The decision in Brkic v White considers whether Ms White has an interest in land that is “tantamount to ownership of the land”, such that the appellants can obtain a charging order that will enable the land to be sold to meet a debt owed by Ms White and her co-trustee of a separate trust. … Continue reading
Section 182 of the Family Proceedings Act 1980, provides that the court has the power to vary the terms of a nuptial settlement where the parties’ marriage or civil union comes to an end. The seminal cases on section 182 are Ward v Ward and Clayton v Clayton [Claymark Trust]. These cases have been clear … Continue reading
Trust “busting” is a topic of enduring interest and has been a feature of the trust landscape as long as trusts have been recognised as a valid form of asset ownership. Jane Phare’s Trust busting: Is it the beginning of the end for hiding relationship property? is a case in point. However, it is important … Continue reading
The application for leave in Little v Little (see A Little guidance on s 182) has been denied by the Supreme Court. the prime thrust of the appeal was that the trust in question was not a nuptial settlement. Reference was made to Te Aka Matua o te Ture/Law Commission (the Law Commission) recommendation that … Continue reading
Transferring assets that might otherwise comprise relationship property to a trust, might appear an attractive alternative to “I love you” but not enough to share my stuff with you. However, even if the relationship is not yet a qualifying relationship for the purposes of the Property (Relationships) Act 1976 (the Act); dispositions to trust can … Continue reading
In Preston v Preston the Court of Appeal notes an observation of counsel that “the matter has eaten its head off.” By way of background: The Grant Preston Family Trust (the Trust) was settled in 2004 three years before Mr Preston met Mrs Preston. The beneficiaries of the Trust included Mr Preston’s children from a … Continue reading
Section 182 of the Family Proceedings Act 1980 empowers “… the courts to review a settlement and make orders to remedy the consequences of the failure of the premise on which the settlement was made” in circumstances where a nuptial settlement has been made upon a trust of which either or both of the spouses … Continue reading
Webb v Webb relates to whether a tax debt owed by the former husband in New Zealand is enforceable in the Cook Islands, and what that means in the context of the division of matrimonial property in the Cook Islands; the validity of two trusts settled on somewhat unusual terms; and valuation considerations when a … Continue reading
The Government has released its response to the Law Commission report, Review of the Property (Relationships) Act 1976 Te Arotake i te Property (Relationships) Act 1976, which was presented to Parliament on 23 July 2019. The report has recommended that the rules applying to relationships ending on death be examined within the context of a broader review of … Continue reading
Matters of Trust 