Description
The Trusts Act 2019 introduced 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
However, disclosure raises wide-ranging issues regarding the due and proper administration of trusts, trustee privacy and fishing expeditions.
This webinar will consider:
- what “every” beneficiary means
- removing beneficiaries to avoid disclosure obligations
- core documents
- how to provide basic trust information
- responding to disclosure requests
- information protocols
- a critical assessment of the factors in s 53 (procedure for deciding whether the presumption applies)
- procedure where trustees decide to give no information
- discovery in proceedings that include trusts, and
- what rights beneficiaries to legal advice obtained by trustees
Practical examples will be provided by reference to cases including:
- Erceg v Erceg [2017] NZSC 28
- Addleman v Lambie [2019] NZCA 480
- McGuire v Earl [2020] NZHC 3083
- McGuire v Earl (Costs) [2021] NZHC 129
- Jacomb v Jacomb [2020] NZHC 176
- 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
20 October 2021
LEARNING OUTCOMES
Attendees will learn the adviser obligations under the Trusts Act 2019 and how compliance with these obligations should be effected and recorded.
SUITED TO
This webinar is targeted at all practitioners at all levels with an interest in trust law but will be of particular interest to practitioners who advise clients who are establishing new trusts.
PRESENTER
Vicki Ammundsen, Director, Vicki Ammundsen, Trust Law Limited
