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Pugachev and its Relevance to Trusts in NZ
Anthony Grant, Barrister
In the recent case of Pugachev, an English Court found five NZ Trusts were either invalid or sham, making it a case of major significance for Trust practitioners. This session will explore why the Trusts were found to be invalid and shams and how to ensure, in light of the Court’s findings, that Trusts will be upheld as valid. Consideration will also be given as to how to avoid Trusts being treated as relationship property after Clayton.
Troubled Trustees – Navigating Stormy Waters with Court Assistance
Vanessa Bruton QC
Same old story. Siblings who don’t get on, or friction between the settlor’s widow and the children of his first marriage. A number of recent cases show the Courts‘ increasing willingness to assist troubled trustees by granting their applications for directions and payment of reasonable costs from the trust estate. In so doing the Courts will have regard to the purposes of the trust, memoranda of wishes, and hold trustees to high standards. The session will identify what practitioners need to know in respect of the Courts’ approach, lessons to learn, and provide practice pointers.
Professional Liability Claims
Andrea Challis, Partner, McElroys
This session on professional liability claims will focus on issues that may arise in relation to insurance policies following notification of a claim. This will include the appointment of defence counsel and the relationship between counsel, the broker, insurer and insured. Considering recent case law, it will also look at the difficulties that may arise for lawyers facing professional liability claims who act both as legal adviser and trustee and the implications of being sued in either capacity.
Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited
The capacity of a person is fundamental to the legality of their decisions. Exploring capacity in the context of wills, asset and estate planning, and trusts, this session will look at the levels of capacity relevant to a variety of common transactions and appointments as well as the solicitor’s risk when identifying capacity issues and when to instruct medical specialists. It will also provide guidance on the exercise of appointer powers under an enduring power of attorney and the issues associated with the removal of incapacitated trustees.
Public Law Pot Pourri – Residential Care and the Rest
Theresa Donnelly, Ministry of Social Development and Oranga Tamariki Shared Legal Services
With a new government, there are more Public Law issues for you and your clients to consider than ever before. This session will address those areas most relevant to practitioners, including developments in the residential care subsidy space, the recent appeal, problems with “early inheritances” and loans from mum and dad. It will explore what might be expected beyond the first hundred days and discuss how you might have fruitful engagement with a government agency.
Section 182 of the Family Proceedings Act 1980: The Present and the (Possible) Future
Brian Carter, Barrister, Bastion Chambers
Section 182 of the Family Proceedings Act 1980 has become an important weapon in the arsenal of family lawyers. This session will provide a succinct overview of the provisions of this section and an analysis of recent case law to demonstrate what the views of the New Zealand courts about the applicability of the section currently are. It will also look into the future and consider the Law Commission’s approach to the section and its initial recommendations.
Co-owners’ Rights to Occupation Rent: Rights under Legislation and in Equity
Lynda Kearns, Barrister, Bastion Chambers
The rights of co-owners to occupation rent under the Property Law Act 2007, the Property (Relationships) Act 1976 and in equity raise some interesting questions. This session, looking at recent case law, will consider whether the legislation does in fact provide for a spouse to claim occupational rent following separation. It will also look at whether the situation is different or the same under the Trustee Act 1956 and how it will be affected by changes to the PRA and trust law generally.
Enduring Powers of Attorney: The Forms and Other Matters
Mary Joy Simpson, Partner, Hesketh Henry
Although the new Enduring Power of Attorney forms have been in place for some time, they may present challenges for lawyers and their clients. This session, using practical drafting examples, will provide insights into how the forms can best be crafted to suit a particular client’s needs, and the extent to which they may be amended. It will also provide a focus on other aspects of EPAs including ways to assist the attorney appointed to understand their role, a review of recent case law where EPAs have been
The Great Balancing Act – Planning ahead with Blended Families
Chris Kelly, Consultant, Greg Kelly Law
Greg Kelly, Partner, Greg Kelly Law
Advising clients in blended families on property matters can often be problematic for lawyers. Options exist but choosing the best one may not always be clear. The Property (Relationships) Act 1976 is one but is it more of a hindrance than a help? Can trusts provide an answer? How can Section 21 Agreements be kept relevant? Do life interest wills really work? And is it possible to reconcile the needs and wishes of adult children and those under age? This session will seek to provide some of the answers and make the family lawyer’s task less onerous.
Current Tax Considerations for Trust Lawyers
Denham Martin, Principal, Denham Martin Tax Law.
This session will focus on current taxation issues impacting on trusts law and administration. It will include a discussion of IR’s revised Interpretation Statement on the Taxation of Trusts and will consider new legislative initiatives for Base Erosion and Profit Shifting that tighten existing rules applying to foreign trusts as well as other IR statements and cases of relevance to trust practice.
Winding-up without Getting Wound Up
Juliet Moses, Partner, TGT Legal
Trust windings-up are occurring more frequently. Whatever the reason for a winding-up, it can involve complex issues that trustees, acting in accordance with their duties and best practice, should be mindful of. This session will look at the various reasons why a trust may be wound-up and the different ways that this can be achieved. In addition, it will highlight the principal issues to bear in mind including the question of indemnity, and address some of the practicalities that need to be dealt with.