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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
Writing a will is in large part a leap of faith. The will-maker’s wishes may be clear and objectively reasonable, for example providing for a spouse or partner on the expectation that children will be provided for when the surviving spouse or partner dies. However, if on or more of the children are unhappy with the … 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
Will trusts or testamentary trusts are the most common form of trusts. In this regard, your will is literally your last word. However, an extraordinary number of New Zealanders do not have a will. If you die intestate (legal speak for no will) your estate is distributed in accordance with the relevant formula in the … Continue reading
The decision in Roberts v Francis further highlights the need to respond to beneficiaries’ information requests in a timely fashion. The background facts can be summarised as follows: Dr Roberts died intestate His wife obtained letters of administration The beneficiairies of his estate, as determined by the Administration Act were his wife and his children … Continue reading
Testamentary trusts are the most common form of trust in existence. A new pages has been added to this blog to consider and comment on issues and matters peculiar to wills and testatmentary trusts. See Wills and testamentary trusts
The appointment as trustee involves significant responsibility and, in some circumstances, it is inthe best interests of the beneficiaries for a trustee or trustees to be removed. Most commonly a trustee will retire or can be removed pursuant to a power of removal where animosity or other concerns may cloud judgment. However, in some circumstances, … Continue reading
Matters of Trust 