Trust Series 2018 - Memoranda of wishes - 13 June 2018 (On Demand)

Description

How to draft them – how binding are they?

A memorandum of wishes is therefore a mechanism by which the settlor can attempt to exert residual influence over the management of the assets the settlor has sacrificed control of. As noted in Breakspear v Ackland [2009] Ch 32:

“The defining characteristic of a wish letter was that it contained material which the settlor desired that the trustees should take into account when exercising their (usually dispositive) discretionary powers.

HIGHLIGHTS

This webinar, which will conclude with a question and answer section, will focus on:

  • How to draft a clear and effective memoranda of wishes 
  • Drafting traps 
  • Are beneficiaries entitled to view memoranda of wishes? What is the position following Erceg v Erceg? 
  • What are the implications of up-dating memoranda of wishes 
  • Who can draft a memorandum of wishes when a trust has a nominee settlor? 
  • How binding is a memorandum of wishes on the trustees? 
  • Can trust terms be varied by a memorandum of wishes 
  • Whether adhering to a memorandum of wishes is a safe course of action for trustees? 
  • Comprehensive case book

OTHER TOPICS COVERED

  • What level of capacity is required to draft a memorandum of wishes 
  • Recent case law on Memoranda of Wishes including the decisions in Clement v Lucas [2017] NZHC 3278, Mackie Law independent Trustee Limited v Chaplow [2017] NZHC 1570 and Chambers v SR Hamilton Corporate Trustee Ltd [2017] NZCA 131 

WHY ATTEND

Memoranda of wishes are commonly, but not always pro forma documents that may not fully canvas the settlor’s considered wishes.

 
This insightful and practical webinar, which will include a precedent memorandum of wishes will also consider the opportunities a good memoranda of wishes can afford and the dangers of a poorly crafted or pro forma memoranda of wishes.

LEARNING OUTCOMES

Attendees will learn:

  • How to draft a clear and relevant memorandum of wishes
  • When and how to review memoranda of wishes
  • Capacity considerations
  • What other supporting documents trustees can consider
  • When and how trustees can comply with the settlor’s intentions as expressed in a memorandum of wishes
  • How to decide whether to disclose a memorandum of wishes to the beneficiaries

ORIGINAL BROADCAST DATE

13 June 2018

SUITED TO

This webinar is targeted at all practitioners at all levels but will be of particular interest to practitioners who advise clients who are establishing new trusts or who deal with on-going trust administration (including lawyers, accountants and professional trustees).

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited

1.25 CPD Hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $180.00 excl. GST

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One-connection-one-fee

Our webinars operate on a 'one-connection-one-fee' basis so you can have your whole team participate for one cost effective price and claim CPD points.

Recordings

All registrants that do not log into the live webinar are automatically sent a recording either later the same day or early the next business day.

If you did log in and wish to view again simply drop us a line at NZ‑learning@wolterskluwer.com and we’ll be happy to send it to you via email.

Sole practitioners

A discount on webinars is available for sole practitioners. Please contact us at NZ‑learning@wolterskluwer.com to confirm eligibility.