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Dewart v Lal relates to an application for summary judgment to set aside a trustee resolution removing and appointing trustees of the Sanatan Dharam Trust (the Trust), a registered charity. The decision is fact specific, but nevertheless provides excellent guidance regarding the interpretation of powers of appointment and removal. When interpreting a trust deed, as … Continue reading
Testamentary trusts are not uncommon. However, trusts deriving from wills are not generally drafted in “conventional” form. This practical reality can lead to unintended administrative hurdles. Re McKay addresses this from a practical construct. By way of background, as noted at [2]: As set out at [9]: It is suggested that the reasoning of the … Continue reading
Singh v Attorney General is an application under part 5 of the Trusts Act 2019 and pursuant to the High Court rules to defend the applicants’ removal as trustees of the Sikh Sangat NZ Trust (the Trust) and for a Beddoe Order. The applicants separately seek the removal of the Trust’s founding trustee and an … Continue reading
The Estate of the Late J.D. Hanson also referred to as Cohen v Kerr relates to long-term asset and estate planning intended by the deceased to ensure that he died “neatly.” His commitment to this was such that a Neatly Board was established. However, as demonstrated in the Estate of the Late J.D. Hanson, the … Continue reading
Two recent decisions regarding directions in the context of charitable trusts provide some useful guidance regarding the parameters of s 66 of the Trustee Act 1956. In line with the title to this blog – the conclusion reached is that it is permissible to ask for directions if lost, but not in circumstances where you … Continue reading
In Roberts v CIR the question for the court is whether the forgiveness of debt a monetary gift for the purposes of s LD 3(1)(a) of the Income Tax Act 2007? Background The Oasis Charitable Trust (the Trust), a registered charitable trust, was settled by Mrs Roberts and her late husband on 14 October 2007 to facilitate the growth of … Continue reading
Trainer v Leake involves a contest between “rival contenders as trustees of a religious trust.” Background The Hawkes Bay Revival Centre is a church founded in 1986. It is run under the auspices of the Hawkes Bay Revival Centre Trust, a trust established by Trust Deed to hold real and persona; property “for the benefit … Continue reading
This blog, which might just as easily be entitled “Flat earth Society members need not apply”, considers the charitable status of cryogenics research. “[1] The possibility of life after death is, perhaps, one of humanity’s oldest preoccupations. Resurrection is at the heart of Christian ideology. And from Mary Shelley’s Frankenstein, HG Welles’ When the Sleeper … Continue reading
The taxation of trusts is a dynamic and ever-changing landscape. The third edition of Taxation of Trusts published this week (September 2016) has been up-dated to incorporate recent case law developments and legislative amendments. The text also considers the application of FATCA to trusts and proposed new reforms to the disclosure rules and closely … Continue reading
There are a large number of charitable trusts in New Zealand. The reason for this is not well understood: see How Charitable is New Zealand for some insight. One of the issues that arises, perhaps more in New Zealand than elsewhere, due to the number of charitable trusts, is that the trustees are not always … Continue reading
Matters of Trust 