This very practical webinar will show you how to review and report on a trust deed by reference to the provisions of the Trusts Act 2019 and contemporary trust administration.
This webinar, which will include the opportunity to ask questions, will walk you through the process of reviewing a trust deed by reference to a trust deed, the relevant provisions of the Trusts Act with the guidance of a supplied check list and a precedent reporting letter.
Topics covered will include:
- Settlement vs Declaration of Trust considerations
- Nominee settlor considerations
- Advisor obligations
- Definitions by reference to the Trusts Act 2019
- Confirming the trust period – what is the maximum available duration? How to reflect the Trusts Act – when it will and will not apply
- Who are the beneficiaries for the purposes of the Trusts Act?
- Disclosure considerations
- Power of retirement – Jasmine considerations
- The scope of indemnity clauses
- Mandatory and default duties
- Is a contrary intention clause for the purposes of the Trustee Act 1956 effective with respect to the Trusts Act 2019?
- Correcting drafting errors – mistake – rectification – variation. Reference will be made to In the Matter of Representation of the Scarlett Investment Holdings Limited; Re Shinorvic Trust; Representation of H1 Trust Company Limited and In the matter of an Application by Patrick and Doris Mary Hindle for an order for rectification of the Hindle Family Trust Deed; In the Matter of the Louise Wilkie Family Trust; Ash v Singh
- Trust administration
Attendees who have specific trust clauses they want reviewed are invited to submit these before Monday 24th of February for consideration during the webinar. Please email these to NZfirstname.lastname@example.org
ORIGINAL BROADCAST DATE
11 March 2020
Attendees will learn:
- How to review a trust deed
- Considerations to take on board regarding the Trusts Act and existing trusts
- Advisor obligations
- How to define classes of beneficiaries
- What the standard terms in trust deeds mean and how these need to be updated to reflect the Trusts Act
- How to establish whether a trust deed is fit for purpose
- Options where a deed is not fit for purpose
This webinar is suitable for accounting and legal practitioners up to senior level who want to develop a better appreciation of the terms of trust deeds in light of the Trusts Act 2019 and what these mean in practical terms.
Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited