Trust Series 2025 – Winding up a Trust

Description

Explore the practical realities of winding up a trust — this webinar looks into trustee and beneficiary perspectives, supported by case law, Q&A, and a workbook of precedent documents

A trust can be wound up:

• following final vesting
• as an exercise of trustee discretion
• pursuant to the rule in Saunders v Vautier, or
• pursuant to part 6 of the Trusts Act 2019

Whatever the basis for the wind up there are practical considerations to address. This webinar will consider when and how trusts can be wound up with specific focus on the trustee and beneficiary perspectives – and where these can differ.

HIGHLIGHTS
This webinar, which will refer to contemporary case law and conclude with a question and answer section, will consider the different ways trusts can be wound up from the perspective of the trustee and the beneficiary. The materials provided include a workbook containing useful precedent wind up documents.

Topics covered include:

• trustee discretion before final vesting
• what it means to be a final beneficiary
• when and whether to make appointments prior to final vesting
• practical ramifications of vesting
• liability considerations
• the mechanics of winding up a trust
• tax considerations
• accounting requirements
• documentation, and
• post wind up record keeping.

Cases considered include:

• Naaman v Jaken Properties Australia Pty Limited [2025] HCA 1
• Queenin v Queenin [2024] NZHC 1035
• Sherwin v JKA Holdings Limited & Ors [2024] NZHC 920
• Kain V Public Trust [2023] NZHC 2535
• Grand View Private Trust Company v Wang UKPC [2022] 47
• Valentini v McGowan [2021] VSC 154
• Enright v Enright [2020] NZCA 529

LEARNING OUTCOMES

Trusts are regularly wound up. However, in the absence of formal guidelines, the steps required (regardless of the reason for the wind up) are not always clear. This webinar will highlight matters to take into consideration from the perspective of the trustee and the beneficiary.

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

Vicki is a director at Vicki Ammundsen Trust Law. Vicki's approach to trust law is practical but also grounded in a good understanding of trust law principles, related legislation, and case law. As the author of a number of texts including Taxation of Trusts, the Trustee's Handbook and Trustee Liability, Vicki is well placed to provide advice on all areas of trust law.