Trust Series 2020 – Disclosure obligations under the Trusts Act 2019 - 22 July 2020 (On Demand)

Description

The Trusts Act 2019 introduces a new presumption that trustees will give basic trust information to every beneficiary. The basic trust information is:

  • that a person is a beneficiary of the trust
  • the name and contact details of the trustee
  • any change of trustee, as it occurs; and
  • beneficiary’s right to request a copy of the trust deed and trust information

This webinar will consider:

  • what “every” beneficiary means
  • whether beneficiaries can be removed to avoid disclosure obligations
  • what trust information must be disclosed
  • how often disclosure must be made
  • disclosure policies
  • draft letter advising basic trust information
  • procedure where trustees decide to give no information
  • a critical assessment of the factors in s 53 (procedure for deciding whether the presumption applies)
  • the penalties for failing to make disclosure, and
  • how to communicate discourse obligations to settlor and trustee clients

Practical examples will be provided by reference to cases including:

  • Erceg v Erceg [2017] NZSC 28
  • Addleman v Lambie [2019] NZCA 480
  • In the Matter of the Representation of the Grundy Trust [2020] JRC 071
  • Mettoy Pension Trustees Limited v Evans [1990] 1 WLR 1587
  • In Re Hastings-Bass [1975] Ch 25, [1974] 2 All ER 193
  • In the Matter of the C Trust [2012] JRC 086B

ORIGINAL BROADCAST DATE

22 July 2020

LEARNING OUTCOMES

Attendees will learn the new disclosure obligations under the Trusts Act 2019, the difference between providing basic trust information and disclosure, how to apply the factors and practical considerations regarding disclosure moving forward.

SUITED TO

This webinar is targeted at practitioners at all levels but will be of particular benefit to trustees, trust advisers and trust practitioners.

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited

 

1.25 CPD Hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $195.00 excl. GST

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