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Trustees are commonly also beneficiaries of family trusts. However, where sibling rivalry or other family disputes compromise the proper administration of a trust, Court assistance can be necessary to determine whether trustees have been properly removed, or whether some or all of the trustees should be removed. In Lim v Lim-Yip the Court was required … Continue reading
The question posed by the court in An application by Hoglie Trustees Limited as trustee of the Larry Robertson Family Trust was whether the Larry Robertson Family Trust (the Trust) was void from inception due to lack of certainty as to the Trust’s objects. Relevantly section 15 of the Trusts Act 2019 provide that: As … Continue reading
Rawson v Prescott, which relates to an unsuccessful application for summary judgment on a claim for vacant possession of trust property raises more questions than it answers. The key issue relates to whether trustees are bound to an agreement for the purposes of section 21 of the Property (Relationships) Act 1976, that the trustees were … Continue reading
In Queenin v Queenin the Court was asked to determine whether a trustee had been properly removed and for the court to review the exercise of appointor and trustee powers. The context of the application was the settlors’ decision to wind up the trust as the settlors did not consider the trust was still necessary. … Continue reading
The current decision in the long-running case of Addleman v Lambie Trustee Limited & Ors relates primarily to whether the Court should order that the parties attend mediation pursuant to section 145 of the Trusts Act 2019. An appendix to the above decision (copied below) sets out a summary of Mrs Addleman’s concerns regarding the … Continue reading
Sections 126 and 127 of the Trusts Act provide for the review of trustee decisions. The scope and relevant procedure are as follows: As noted by Churchman J in Paton v Acropolis Holdings Limited[1]at [54] the review of a trustee decision is a two stage process: As noted in Paton v Acropolis Holdings Limited at … Continue reading
Re Candida Trust provides practical guidance as to the scope of section 125 of the Trusts Act 2019 and the use of the High Court’s inherent jurisdiction to permit trustees to sign a new restated trust deed that incorporates varied terms. Background facts Waiver pursuant to section 125 of the Trusts Act As set out … Continue reading
Re Estate of Witchall relates to four blocks of land held by a company removed from the Register of Companies pursuant to the Companies Act 1955. As noted at [3] to [5]: The company in question could not be reinstated to the Register of Companies as there the Companies Act 1993 does not provide for … Continue reading
Cain v Martin relates to wide ranging proceedings regarding the proper administration of the Tolemac Trust following several years of disharmony following the settlor’s death. The most recent proceedings relate to the removal of one of the two trustees due to concerns regarding proper disclosure regarding trust assets and an unauthorised distribution to a trustee … Continue reading
Inland revenue has released a Special Report regarding the increased tax rate. The report outlines the new rules for trusts including: References:
Matters of Trust 