Trust Series 2022 – Variation

Description

In Ruby v Ruby the High Court approved a variation that amongst other things had the effect of removing “… distant discretionary beneficiaries who only ever enjoyed a vague hope of benefiting from the A Ruby Trust, and in the circumstances they were effectively in all respects redundant.”

This webinar will consider variation of trusts pursuant to the Trusts Act 2019 and the High Court’s inherent jurisdiction in light of the reasoning of the High Court in Ruby v Ruby.

HIGHLIGHTS
This webinar, which will conclude with a question and answer section, will also consider variation  in accordance with the terms of a trust. The materials will include a precedent deed of variation. 

Topics covered will include:

  • Powers of variation in trust deeds
  • Power of court to authorise variation 
  • The difference between a waiver pursuant to s 125 of the Trusts Act compared with consent pursuant to s 124 of the Trusts Act
  • Mechanics of variation
  • The line between variation and resettlement
  • Unintended tax consequences
  • Case law up-date considering cases including:
    • Ruby v Ruby
    • Grand View Private Trust v Wong
    • Talijancich, Malone and M & L Trustees Limited v Talijancich & Ors
    • Re Setter

WHY ATTEND
Trusts are routinely varied. However, the consequences and process of variation require careful consideration. This webinar will educate on the mechanics and options for variation with consideration given to the Trusts Act and the powers of the High Court.

LEARNING OUTCOMES

Attendees will learn:

  • The mechanics of the variation of trusts
  • The difference between variation and resettlement
  • Variation pursuant to the Trusts Act 2019, and
  • Variation pursuant to the High Court’s inherent jurisdiction 

SUITED TO

This webinar is targeted at all practitioners with a good knowledge of trust law who are looking to develop a broader appreciation of the mechanics and consequences of variation.

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited.

1.5 CPD Hours

  • Aug 24
    • $215.00 excl. GST
    Wed, 10:30 AM NZST - Wed, 12:00 PM NZST Online
    • $215.00 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.