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The High Court decision in Re Neal Grenville Johnson Trust (the Trust) reflects a practical approach to the termination of a trust where the trustee has no discretion to distribute capital and there is no power to bring forward the vesting day, which is still 32 years away. The terms of the Trust provided that … Continue reading
Aaron Adams Trustee Ltd v Jones relates to an application for blessing order to distribute the assets of a substantial discretionary trust for the benefit of persons and charities who were not previously named as beneficiaries of the trust. By way of background: The Trustee has sought directions, notwithstanding that there is no live dispute. … Continue reading
In an application for a blessing order by the trustees of the Palliser Family Trust (the Trust), the High Court dispensed with service on a wide group of beneficiaries and consented to the proposed settlement on behalf of these beneficiaries who were considered to have no real prospect of benefitting from the Trust. The Court: … Continue reading
In Re Arcus the Court consents to a variation of trust on behalf of minor beneficiaries. The trust in question had a maximum duration of 50 years. No reason was given for this. The trustees were of the view that as the trust had been successful and accrued a significant body of of assets and … Continue reading
Vincent v Vincent Family corproate Trust Limited concerns a dispute regarding who should benefit from two family trusts in circumstances where the Court is asked whether whether whāngai children shoud be included in the class of grandchildren. As noted at [7] to [10]: [7] The Trusts distinguish between income and capital beneficiaries. Only capital beneficiaries share … Continue reading
In the Matter of the Testamentary Trust of Hanning relates to an application to terminate a testamentary trust pursuant to section 121 of the Trusts Act 2019 and for an order pursuant to section 124 of the Trusts Act approving the application on behalf of minor or future beneficiaries. The trust in question arose under … Continue reading
Re Turner Family Trust No 2 relates to an application pursuant to section 124 of the Trusts Act 2019 for an order to approve a variation on behalf of any person who may acquire a beneficial interest in the trust at a future date. All living beneficiaries were adult, have capacity and approved of the … Continue reading
Testamentary trusts arise in many circumstances and for many reasons. In Castle Trustees Limited the deceased provided for the residue of his estate to provide income for his children throughout their lives with a 1/4 share of the total residuary estate being distributed in equal shares to the grandchildren following the death of each child. … Continue reading
“Retaining” the trust when a relationship ends is often not as straight-forward as the relevant parties might consider. This is highlighted in Collinson v Collinson & Co Limited where orders were sought for variation to a trust to allow the inclusion of one the settlor’s child and a any future children with his new party. … Continue reading
In Trustees Executors Limited v Poppe, Walker J explores the variation of a will against a background of a challenge as to capacity and an allegation of undue influence. There are two wills in question, one made in 2016 and one made in 2019. The primary difference is that the 2019 will provides that a … Continue reading
Matters of Trust 