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It is not uncommon for will-makers to specify the age at which beneficiaries are to benefit. The question is, if the beneficiaries have capacity, must they wait? Telford v Telford answers this question by reference to the rule in Saunders v Vautier, and more latterly section 121 of the Trusts Act 2019. By way of … Continue reading
Jones v Jones relates to matters in dispute regarding the estate of Basil Jones, in the context of a blended family. The executors of Basil Jones’ will are his surviving wife Laurel and his children from a previous relationship. Laurel made an election to pursue a claim against Basil’s estate pursuant to the Property (Relationships) … Continue reading
Cooper v Pinney is a second appeal and cross-appeal, by leave, from a decision of the Family Court that ascertained relationship and separate property following a relationship break down. At the heart of the matter was the treatment of a discretionary trust settled during the relationship to receive property by way of resettlement from a … Continue reading
The background to Legler v Formannoij is set out in No fraud here. For practical purposes the relevant background is canvassed at [24] as follows: Fundamentally Legler v Formannoij considers whether the appointment of a corporate trustee of which a beneficiary is the sole director is improper. This question needs to be considered in light … Continue reading
Re Darlow (in the Estate of Janette Diana Moleta) relates to an originating application for directions pursuant to s 133 of the Trusts Act 2019. The applicant Mr Darlow is the executor of the estate of Janette Moleta (the Estate). He seeks a direction that “… following the conclusion of an appropriate advertising campaign, he … Continue reading
Singh v Attorney General is an application under part 5 of the Trusts Act 2019 and pursuant to the High Court rules to defend the applicants’ removal as trustees of the Sikh Sangat NZ Trust (the Trust) and for a Beddoe Order. The applicants separately seek the removal of the Trust’s founding trustee and an … Continue reading
The decision in Re Tauranga Energy Consumer Trust may on first blush appear esoteric and outside the mainstream. However, the decision warrants careful reading as it is one of the few cases to date to consider default duties imposed by the Trusts Act 2019 in a practical construct. The case relates to a proposed restructure … Continue reading
The background to the appeal in Lambie v Addleman is encapsulated in [8] and [9] of the decision where the Supreme Court states as follows: The factual background is set out in Whose advice is it?; Rights to information prevail; and Disclosure request declined – 24 years a leap too far for a beneficiary who … Continue reading
Trusts are a common form of asset ownership. However, the rights and obligations associated with trusts, and even simple matters such as contracting with trusts are not always well understood. Vicki Ammundsen is presenting a webinar on Trust Fundamentals on 10 February 2021 at 10.30am. For more information see Trust Series 2021 – Trust Fundamentals.
The Trusts Act 2019 came into full force and effect today, 30 January 2021 and the Trustee Act 1956 and Perpetuities Act 1964 are repealed. Hello and good bye. The purpose of the Trusts Act is to make trust law more accessible to trustees and beneficiaries and to strengthen the ability of beneficiaries to hold … Continue reading
Matters of Trust 