Description

The Trusts Act 2019 provides that before the creation of the trust, the adviser(s) must take reasonable steps to ensure that:

• the initial settlor is aware of the meaning and effect of the modification or exclusion of any default duties, and
• the settlor is aware of the meaning and effect of any liability exclusion or indemnity clauses in the terms of the trust.

This webinar, which is accompanied by a practical supporting paper that includes a precedent letter of advice, certificate and trust addendum will consider:

• the policy rationale for adviser obligations
• the definition of adviser, settlor and initial settlor
• the default duties
• exemption and liability clauses
• “reasonable steps” in the context of sections 39 and 43 of the Trusts Act
• what to advise
• who to advise
• when to advise
• how to record the advice, and
• consequences of failure to comply with advice obligations

The webinar will conclude with a case law update followed by questions and answers.

ORIGINAL BROADCAST DATE

11 October 2023

LEARNING OUTCOMES

Attendees will learn the adviser obligations under the Trusts Act 2019, how compliance with these obligations should be managed and when these obligations do and don’t apply.

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 or varying existing trusts.

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited.