//
archives

trust

This category contains 59 posts

Barely there

Bare trusts are not uncommon and can arise intentionally or otherwise, as well as by an express declaration of trust, whether written or oral.   However, the nomenclature can extend to a range of circumstances where it is necessary to consider the nature of the trust and, if a bare trust, the bare trustee’s duties. In … Continue reading

The Kiwi way

  New Zealand Herald data journalist Keith Ng estimates that 325,000 New Zealand properties have trusts involved in their ownership structure.  See In properties we trust – it’s the Kiwi way by Anne Gibson (New Zealand Herald 18 January 2020).  However, what the true number is cannot be definitively determined as s 153 of the … Continue reading

Balancing philanthropy and moral duty

In Carson v Lane Thomas J explores the moral duty owed by a father to his estranged adult children balanced against the father’s wishes that his windfall wealth be utilised in the furtherance of research and development of the Galloway breed of cattle.   His final will, which was made in the face of strong legal … Continue reading

Equitable lien: support for a caveat

The background of this matter is set out at [1], [2], [3] and [4] of the High Court judgment as follows: [1] The plaintiff, Camray Farms Ltd (Camray), and the second defendant, the Gordon Moore Trust (GMT), each claim priority to the proceeds of sale of properties in Ohaupo known as the Neighbouring Property and … Continue reading

Response to Relationship Property Review

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

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

Balance of convenience is best interest of beneficiaries

  The proceedings in McLaughlin v McLaughlin relate to a dispute between the beneficiaries and trustees of the Ashley Trust (the Trust) and whether there should be an interim injunction to prevent the trustees from proceeding with the next stage of a development of trust property. By way of background see A little light on Beddoe … Continue reading

Reconstructive memories

Families are complicated.  Family agreements and arrangements all the more so.  Almond v Read highlights the consequences of family arrangements that are not recorded in writing.  The background facts are not disputed.  Ms Almond purchased land in Drury.  Two dwellings were built on the Drury property (the Property), one was occupied by Ms Almond and … Continue reading

Loss of morale

Triezenberg v Mason (As to power and appointment and costs) follows the earlier trustee removal decision.  See Buyer’s remorse. By way of background the High Court removed Mr Mason and his incapacitated wife as trustees of two family trusts.  A rift had occurred between the competent trustees that had resulted in significant dysfunction.  No orders … Continue reading

What’s left for the “spouse”?

The Property (Relationships) Act 1976 (the PRA) has primary jurisdiction over relationship property.   However, when there is a trust (or trusts) in the mix, the final division of property can  be complicated – and often neither side (nor the settlors or trustees who may be caught in the cross-fire) will consider the end result just … Continue reading

Categories