Trust Series 2023 - Trustee Liability - 5 April 2023 (On Demand)


The right of the trustee to an indemnity for costs and expenses incurred in the course of office is “recognised as an incident of trusteeship.”

McCallum Jnr v McCallum

However, as confirmed by the Supreme Court in Lambie Trustee Limited v Addleman:
“… the right to indemnity applies to costs “properly incurred.” It is not disputed that “careless and unreasonable conduct in the conduct of litigation” may deprive a trustee of the indemnity. Further, as the Court of Appeal noted in McCallum Jnr, “[a] trustee partisan in his [or her] own interests or the interests of only some beneficiaries likewise may be deprived of indemnity”.

This webinar, which includes a comprehensive paper and concludes with a question and answer section, will consider the outcome of recent cases to demonstrate how trustee liability arises and the practical steps that can be taken to manage the risks of trusteeship.
Topics covered will include:

  • Sources of risk
  • Indemnity myths
  • Liability and exemption clauses in trust deeds
  • Practical considerations regarding the use of corporate trustees following the Court of Appeal decision in Legler v Formannoij and the Supreme Court decision in Lambie Trustee Limited v Addleman
  • Blessing orders
  • Insolvent trusts – to what extent does the Privy Council decision in the Equity Trust case apply to New Zealand
  • Managing the costs of litigation
  • Case law up-date

Although it is common for a deed of trust to limit a trustee’s liability to the assets of the trust, many circumstances can arise where a trustee is personally liable for losses. Accordingly, it is essential that trustees (and their advisers) understand and manage the risks inherent in the appointment as a trustee.


5 April 2023


Attendees will learn:

  • How to practically assess the risks of trusteeship
  • The extent to which trustees can limit liability and be indemnified
  • The parameters of properly incurred expenses in a trust context, and
  • How loss is shared following a trust’s insolvency 


This webinar is targeted at practitioners at all levels but will be of particular benefit to practitioners who advise trustees or who are trustees or directors of trustee companies.


Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited.


1.5 CPD Hours

  • On Demand Event
    • $215.00 Summer Sale 40% Discount - Apply Promotional Code: SUMMER40 $129.00excl. GST
    Complete online in your own time (Self-paced)
    • $215.00 Summer Sale 40% Discount - Apply Promotional Code: SUMMER40 $129.00excl. GST

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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.


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‑ to confirm eligibility.