//
archives

Testamentary trusts

This category contains 14 posts

Saunders v Vautier 2019

The rule in Saunders v Vautier is generally well understood.  However, the parameters of the rule are less clear.  As noted in the Law Commission’s Third Issues Paper on the Review of the Law of Trusts “Perpetuities and the Revocation and Variation of Trusts”: The scope of the rule has become wider than merely allowing a … Continue reading

70% too late?

On first blush Kinney v Pardington appears to set the bar for Family Protection Act (FPA)claims at an almost unprecedented 70% in the context of one of three children claiming a breach of moral duty.  However, when the facts are considered, the context of this case, may set it apart due to the very specific … Continue reading

Ink vs litigation

On first glance Almond v Read, appears to have it all.  Arguments were made relating to the parties common intention, a constructive trust and breaches of fiduciary duty in the context of family owned land that was acquired with best of intentions.  However, over time, different parties adopted different views of the basis upon which a … Continue reading

Generosity can have its limits

A grandfather, Mr Greenwood, told his grandson that he could buy his house for $300,000 after his death. He expressed this wish to others, including his daughter (mother of the grandson) who was one of the executors of his estate, although it was not in his 2005 will. This occurred in Christchurch before the Earthquakes … Continue reading

Expectation denied

Expectations, great or otherwise are tricky to enforce.  When a person who had expectations in respect of an estate is disappointed there are various options for challenge open to the disappointed party.  However, each has thresholds that need to be satisfied. Consider the case of Blumenthal v Stewart.  Mr Blumenthal was the son of Mr … Continue reading

Jurisdiction failure

Estates can take time to administer and distribute.  Beneficiaries can tire of waiting.  Or they might require funds to sue the executors or other stuff.  The remedies available to beneficiaries depend on part as to whether the estate has transitioned from the administration phase.  See transition from executor to trustee.  This was of relevance in … Continue reading

War of the roses

War of the Roses is a 1989 American film based on the 1981 novel The War of the Roses by Warren Adler. The film, which  co-stars Michael Douglas, Kathleen Turner and Danny DeVito chronicles the demise of a marriage  against the backdrop of a beautiful home that the couple, literally fight to the death over.  Trust disputes can be … Continue reading

Taxation of Trusts ed 3

  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

Costly failure to disclose trust information to minor beneficiary’s guardian

Beneficiaries of a trust – including a testamentary trust are entitled to information relating to the trust. In the Goodman v Campbell a minor beneficiary’s mother sought appointment as a litigation guardian following an executor’s refusal to provide information about the estate of which her minor son was the sole beneficiary.  The trustee of the … Continue reading

What’s in a name?

References to executors and trustees are routinely combined and treated as synonymous with each other.  But are they?  Actually they are not.  While the distinction is often unimportant, in certain circumstances it is critical. The executor’s duties include obtaining a grant of probate, getting in all of the assets, paying outstanding (and future) debts including … Continue reading

Categories