Trust review

This category contains 17 posts

You aren’t my beneficiary – are you??

Certainty as to object, that is, who the beneficiaries of a trust are is one of the three certainties required to evidence a valid trust.  See Davis v White. However, what is the position where it is clear that a person or company or trust is a beneficiary – it is just that had the … Continue reading

Trustees lost at sea?

I often describe trusts to new clients by reference to puppies.  A lovely idea – and a very important life time companion.  However, trusts like puppies need a lot of support, maintenance and there needs to be someone to clean up. I was pleased then to see Lindsay Pope today analogising accepting an appointment as a trustee … Continue reading

Update on the Review of the Law of Trusts

A new “Trusts Reference Group” has been established by Minister of Justice Amy Adams to help update and improve the law governing private trusts. Ms Adams has stated that in a media release made on 29 May 2015 that “it’s important that trust law is fit for purpose and does not create unnecessary costs.” The Trusts Reference Group … Continue reading

Trustees and dementia

The early signs of dementia can be subtle.  Although dementia can occur at any age, it is far more common amongst the older demographic. Accordingly, while lawyers and accountants, and trustees generally are rarely mental health experts, it is important to say alive to the early signs of dementia so that risks can be identified … Continue reading

Trust Fundamentals Webinar

Trusts are the best long-term intergenerational form of asset protection.  However, as litigation involving trusts increases, questions are reasonably asked regarding the “safety” of trusts.  If you are looing for answers or guidance Vicki Ammundsen is presenting a webinar on February 19th discussing the fundamentals of trusts.  Topics covered by the webinar include: Requirements of a valid trust Differentiation between … Continue reading

Trust review

The fifth issues paper on the Review of the Law Trusts: “Court Jurisdiction, Trading Trusts and other issues: Review of the Law of Trusts” was issued today.  The paper is available from the Law Commission. The paper will be progressively reviewed and commented on at the Review page of this blog.

Taxation of Australian trusts under review

New Zealand isn’t the only jurisdiction carrying on a love affair with trusts.  Although the numbers of trusts in Australia, once population adjusted, are less per head than in New Zealand, the numbers are significant with the Australian Tax Office reporting over 660,000 trust tax returns for the 2008-09 year.  These trusts spanning a broad range of industries … Continue reading