Description
Note: this webinar is the second of a two-part series. You can save 10% by purchasing both webinars together.
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Gain practical expertise in court-assisted trust wind-ups, including key Trusts Act provisions and emerging judicial trends
This webinar follows on from Part 1, which discussed the practical aspects if winding up a trust, and canvases a trust wind up where the assistance of the court is required.
As noted in Aaron Adams Trustee Ltd v Jones at [47]:
Here it is proposed that eye-watering amounts of money be gifted to people of apparently modest wealth, beyond the realm of most New Zealanders. For the proposed beneficiaries this would seem to be akin to winning Lotto. This is indeed what the Privy Council in Grand View Private Trust Co Ltd v Wong described as a “momentous decision.” The Privy Council criticised the trustee in Grand View for failing to seek court approval before making a decision that effectively distributed the entire trust fund. The Privy Council went on to comment that “a trustee who is in genuine doubt about the propriety of any contemplated course of action in the exercise of fiduciary duties and discretions is always entitled to seek the guidance of the court”.
HIGHLIGHTS
This webinar, which will refer to contemporary case law and conclude with a question and answer section, will canvas the role of the court where court assistance is required.
Topics covered include:
- directions – blessing orders
- consent pursuant to section 124 of the Trusts Act
- waiver pursuant to section 125 of the Trusts Act
- anonymisation
- case law up-date
Part 1 of this webinar canvasses winding up and resettlement from a practical perspective.
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 when the assistance of the court is required.
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
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.
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To view Part 1 of this series please click here