Trust Series 2019 – Winding up a Trust

Description

Trusts are routinely wound up. Anecdotal evidence suggests that currently a larger number than usual of trusts are being wound up due to concerns about ageing trusts and trustees, intergenerational family dynamics and concerns regarding beneficiary disclosure required by the Trusts Act 2019.

Regardless of the reason for winding up a trust, there are a number of important considerations that needs to be taken into account.

This webinar will address how trusts are wound up together with matters that need to be taken into account when a trust is brought to an end including liability and indemnity considerations.

HIGHLIGHTS

This webinar, which will conclude with a question and answer section, will utilise a check list, a case study and a precedent deed to bring forward the vesting date, deed of distribution and trustee resolutions to demonstrate matters to canvas when winding up a trust, how a trust is wound up and what documents are required.

Topics covered will include:

  • When a trust must be wound up
  • Vesting date considerations
  • The mechanics of winding up a trust
  • Tax consequences
  • Accounting requirements
  • Practical matters to attend to
  • Corporate trustee considerations
  • Appropriate indemnities
  • Liabilities that occur after a trust has been wound up, and
  • Post wind up record keeping

Cases covered will include:

  • Representation of the Rawlinson & Hunter Trusts SA re Z Trusts [2019] JCA 106
  • Gailey v Gordon (2003) 1 NZTR ¶13-002

LEARNING OUTCOMES

Trusts are regularly wound up. However, in the absence of formal guidelines, the steps required are not always clear. This webinar will highlight matters to take into consideration to ensure that the trustees adopt a suitable decision making process, that any risks to trustees are identified and managed and that all trust and tax obligations are attended to before a trust is brought to an end.

SUITED TO

This webinar is targeted at all practitioners at all levels but will be of particular interest to practitioners who act as or advise trustees.

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited

1.25 CPD Hours

  • Nov 27
    Wed, 10:30 AM NZDT - 11:45 AM NZDT Online
    • $190.00 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.