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Wallace v Wallace relates to a decision of the trustees of the Ione Wallace Trust (the Trust) to bring forward the Trust’s vesting date. As set out at [4]: “The trustees wish to bring forward the vesting date and distribute the funds they currently hold to the six final beneficiaries named in the Trust. One … Continue reading
The Trusts Act 2019 introduced a presumption that trustees will provide basic trust information to every beneficiary and will provide further information on request. Before doing so, trustees must consider the factors set out in section 53 of the Trusts Act. Importantly, there is a procedure in section 54 of the Trusts Act where no … Continue reading
Nadan v Sharma relates to an application for the removal of trustees and the appointment of an independent corporate trustee in circumstances where the trustees’ marriage has ended and the trustees are deadlocked. Of note is that prior to the application for removal was made following two arbitral awards in respect of the jointly settled … Continue reading
Family trusts can raise complex considerations and perhaps none moreso than those relating to the changing of the guard as the intergenerational control aspect of family trusts is brought to bear. A contemporary consideration of these matters has been played out on the Triezenberg v Mason chronicles. The most recent iteration is the unsuccessful appeal … 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
The background to Hamilton v Kirwan can be set out as follows: A 58.9450 hectare block of rural land (the Property) was purchased in 1984 In December 1997 the Property owner’s daughter began living on the Property. In 2000 she built a dwelling on the Property part of which was funded by a $20,000 advance … Continue reading
In Jacomb v Jacomb Cooke J provides a considered assessment of disclosure in the context of a troubled and disenfranchised beneficiary. The case highlights the need for careful analysis of facts when seeking disclosure, the relevant principles, and importantly given that the Trusts Act 2019 will come into full force and effect on 30 January … Continue reading
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, …” Thus commenced Charles Dickens’ novel A Tale of Two Cities, and similarly the mindset of any settlor of … Continue reading
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
Para 438 in the decision of MezhProm Bank v Pugachev refers to a phenomenon in patent law known as the Angora cat problem first identified by Professor Franzosi, an eminent academic expert in the field: “Professor Mario Franzosi likens a patentee to an Angora cat. When validity is challenged, the patentee says his patent is … Continue reading
Matters of Trust 