Has the Trusts Act changed anything?
Section 51 of the Trusts Act 2019 provides that there is a presumption that trustees will make basic trust information available to every beneficiary.
This webinar will provide an in-depth study of beneficiaries and beneficiary rights and will ask the question now that the Trusts Act 2019 is in full force and effect has anything changed?
This webinar considers:
- What is basic trust information?
- What is a reasonable time-frame regarding considerations regarding giving basic trust information?
- What other information can be reasonably expected to be provided?
- How to beneficiaries best present themselves when requesting information?
- How should trustees manage disclosure obligations?
- How do trustees respond to information requests?
- What can beneficiaries do to enforce their rights?
Attendees will receive a paper that includes case notes and precedent communications with respect to beneficiary information requests.
This webinar, which will conclude with a question and answer section, will focus on:
- the presumption of disclosure of basic information to every beneficiary in the Trusts Act
- decided cases including Erceg v Erceg; Addleman v Lambie; Jacomb v Jacomb and McGuire v Earl
- removal of beneficiaries to avoid disclosure
Other topics covered will include:
- A discussion of the rights of different beneficiaries and matters that need to take into consideration when drafting deeds of trust
- How trustees should respond to information requests from a beneficiary
- What documents can be expected to be disclosed to a beneficiary
- Appointment and removal of beneficiaries – from the perspective of the trustee, the beneficiary
- What is the role of the appointor?
- Beneficiaries challenging trustee decisions
- The unreasonable beneficiary – who pays for that?
- The cost of getting it wrong
Beneficiaries are fundamental to a valid trust. Although modern discretionary trusts commonly allow some beneficiaries to be favoured over others, it is important for trust practitioners to have a good understanding and appreciation of what rights any particular beneficiary has, when or how these rights can be enforced or compromised.
ORIGINAL BROADCAST DATE
2 June 2021
Attendees will learn:
- What rights beneficiaries have
- What can beneficiaries do to enforce their rights
- Strategic considerations regarding the enforcement of beneficiary rights, and
- Relevant tax considerations.
This webinar is targeted at all practitioners at all levels but will be of particular interest to practitioners who advise trustees or beneficiaries.
Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited.