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trust

This category contains 69 posts

Sensible outcome – inexplicable decisions

O’Dea v Rutten serves as reminder of the importance of respecting the legal framework of estates and trusts. For reasons that make no legal sense notwithstanding wills that provided for the residue of two estates to be distributed to trusts, the executors took the position that the trusts should be wound up and the trust … Continue reading

It’s mine said the trustee, all mine

The background to the appeal in Lambie v Addleman is encapsulated in [8] and [9] of the decision where the Supreme Court states as follows: The factual background is set out in Whose advice is it?; Rights to information prevail; and Disclosure request declined – 24 years a leap too far for a beneficiary who … Continue reading

Certainty and protection

The purpose of a Beddoe application as set noted in Representation of X Trustees re D and E Trusts is to “.. provide certainty and protection to a trustee by predetermining the question of whether costs incurred in third party litigation were reasonable and should be borne out of the trust fund.” In considering whether … Continue reading

Turning of the tide?

McGuire v Earl is a successful application for the following trust information: statements of accounts copies of all Minutes and Resolutions any documents pertaining to any distributions all documents pertaining to any gifting or debt incurred, and bank statements for all bank accounts. The trust in question was settled by Mr McGuire’s father and Mr … Continue reading

No notice of trust

Section 153 (set out below) of the Land Transfer Act 2017 provides that no notice can be given on the land title register that land is held on trust. 153       Trusts not to be entered on register (1)        Notice of a trust, whether express, implied, resulting, or constructive, must not be registered or noted on … Continue reading

A Little guidance on s 182

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

Empty Table

In the Matter of the Representation of First Island Trustees Limited raises interesting considerations about the position of a trustee who finds itself in a situation where the family who was to benefit has effectively disavowed the Trust.  The decision also highlights the practical aspect of anti-money laundering obligations and client due diligence where there … Continue reading

Family First to keep the home fires burning

In the first significant decision since the Supreme Court decision in Greenpeace the majority of the Court of Appeal has allowed the appeal in Family First New Zealand v Attorney-General against the decision to de-register it as a charity.  The High Court had previously considered that Family First did not qualify for registration as its … Continue reading

Invalidity upheld

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

Let the children be heard

Trusts and relationships can make for very poor bedfellows. The temptation to remove a former spouse or partner as trustee or beneficiary or to appoint or remove a professional presumed to favour one side over the other (whether or not this is the case) can be tempting. Similarly fraught can be involving children in the … Continue reading

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