Trust Series 2021 – Winding up a Trust - 24 November 2021 (On Demand)

Description

Trusts are wound up when a trust comes to an end; or earlier where the trustees have the power to do so.

Practical concerns about ageing trusts and trustees, intergenerational family dynamics and beneficiary information and disclosure obligations required by the Trusts Act 2019 are prompting increased interest in trust wind ups.

Regardless of the reason for winding up a trust, there are a number of important considerations that need to be taken into account.

This webinar will address how trusts are wound up together with matters that need to be taken into account when a trust is brought to an end including liability and indemnity considerations.

HIGHLIGHTS
This webinar, which will conclude with a question and answer section, will utilise a work flow process and a case study of the recent decision In the matter of the Piedmont Trust and the Riviera Trust [2021] JRC 248, which examines a number of relevant considerations. The materials include precedent deeds to bring forward the vesting date, distribute trust assets and trustee resolutions that canvas matters to take into consideration when winding up a trust.

Topics covered will include:

  • Factors to take into account when advising on a trust wind up
  • Appropriate consideration with respect to memoranda of wishes
  • Seeking the “blessing of the court” for such a momentous decision
  • The mechanics of winding up a trust
  • Vesting date considerations
  • Tax consequences
  • Accounting requirements
  • Practical matters to attend to
  • Corporate trustee considerations
  • Appropriate indemnities
  • Liabilities that occur after a trust has been wound up, and
  • Trustee’s liens
  • Post wind up record keeping

ORIGINAL BROADCAST DATE

24 November 2021

LEARNING OUTCOMES

Trusts are regularly wound up. However, in the absence of formal guidelines, the steps required are not always clear.  This webinar will highlight matters to take into consideration to ensure that the trustees adopt a suitable decision making process, that any risks to trustees are identified and managed and that all trust and tax obligations are attended to before a trust is brought to an end.

SUITED TO

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

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.