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Desire vrs Obligation! Gain practical guidance on how trustees should interpret memoranda of wishes—and how settlors can shape them effectively.
As stated in Chambers v SR Hamilton Corporate Trustee Ltd at [36]:
“Settlors are entitled to express their wishes for the benefit of trustees, and trustees are entitled to take them into account. They can be important guidance to them in the exercise of discretionary powers. However trustees, whatever a settlor’s wishes, must conscientiously apply their independent discretion in exercising their powers.”
HIGHLIGHTS
This webinar, which will include a comprehensive workbook that canvases relevant case law and concludes with a question and answer section will provide practical guidance for trustees regarding what it means to “read and understand” a memorandum of wishes and for settlors who want to properly direct their wishes
WHY ATTEND
Memoranda of wishes are commonly, but not always pro forma documents that may, or may not fully canvas a settlor’s considered wishes.
This insightful and practical webinar, which will include precedent memoranda of wishes clauses and will consider contemporary matters relating to memoranda of wishes including:
- constraints on surviving settlors
- economic settlors
- who else might give a memoranda of wishes
- legal formalities, and
- proper variation and amendment.
