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New Zealand has an extraordinary number of family trusts. This love affair with trusts, perhaps not surprisingly, is not limited to family trusts and is mirrored in the number of charitable trusts. One issue with the number of charitable trusts is the fragmentation of potential resources and how these can be diminished through administration, legal … Continue reading
The common intention constructive trust is a rare beast. Its remedial potential had a brief moment of sun until the Court of Appeal delivered its decision in Harvey v Beveridge. The facts of Harvey v Beveridge can be summarised as follows: Mr Beveridge was befriended by Dr Byrd who provided him with a home in a … Continue reading
The common intention constructive trust is the hot and hip new remedy in the arsenal of the savvy trust lawyer. So perhaps it is not surprising that when A lister Sally Ridge fell out with her equally sociable partner that such a claim might be made. The genesis of the claim derived from some restructuring … Continue reading
It is easy to think of trusts as magical places to hide things. However, the fortress that the trust may appear can be somewhat less so when assets are being transferred to a trust to avoid creditors getting their hands on them. Dispositions, whether gifts or sales for inadequate value, made to defeat creditors can be … Continue reading
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
Designing a kitchen takes time and effort. And about a billion magzines. You finally get it nutted down. Kitchen professional is chosen, design finalised, deposit paid. At this point thoughts of trusts are as far from your mind as possible, your mind being full of composite vs granite. Will marble really stain that badly (ah … Continue reading
A little licence in the heading, maybe not the earth, but in some circumstances, an interest in trust at least. The rule in Saunders v Vautier allows the final beneficiaries of a trust to bring the trust to an end provided that all of the trustees are in agreement and are of age. The rule … Continue reading
A constructive trust claim provides instructive reading into recognising what it is that you are after before you begin. It begins, as is so often the case with trust cases, with a failed relationship. There was a home owned and constructed by a trust that was settled well before the relationship began. After the relationship ended … Continue reading
Marriage break ups are messy. You don’t usually need to scratch much below the surface to find that out. Who said what unbelievable thing. Who did what unbelievable thing. Who slept with a party outside of the union. We’ve all seen it / read about it (maybe talked a bit more about it than we … Continue reading
When vendor and purchaser are associated companies the amount of secondhand goods credit that can be claimed is limited to the lesser of the: GST included in the original cost of the goods to the supplier [GST] tax fraction of the purchase price, and tax fraction of the open market value of the supply. The tests of … Continue reading
Matters of Trust 