Trust Series 2021 - Beneficiary Rights - 2 June 2021 (On Demand)

Description

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.

HIGHLIGHTS
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

WHY ATTEND
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

LEARNING OUTCOMES

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.

SUITED TO

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

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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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 to a live webinar will automatically be sent a recording at the end of that week along with a full transcript of the webinar, regardless of whether you attended or not.

Sole practitioners

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