Presented by the ADLS Trusts Committee this On Demand seminar is a summary of all the problem areas lawyers should be looking at, with the aim of giving practitioners an action plan prior to the Trusts Act coming into force on 30 January 2021.
There are three important phases that lawyers have to consider:
- Reviewing all individual trusts and core documents – are they fit for purpose? If not, what is recommended?
- Having meetings with the trustees of each trust to take them through the issues and make decisions on action needed. Especially important for non-lawyers/accountants who are trustees.
- Advising trustees on what trust information to keep, how to keep it and what must be given to beneficiaries, including how to deal with mandatory disclosure to and trust information requests from beneficiaries. Discussing the continuing influence of the Supreme Court’s guidance in Erceg v Erceg and guiding trustees on the perils and pitfalls of the new disclosure regime.
This On Demand seminar addresses what you need to do in order to conduct this trust fitness for purpose audit.
- Develop a better understanding of how lawyers can assist trustees with getting to grips with their new responsibilities under the Trusts Act.
- Learn more about some of the problems you need to avoid and how to overcome them.
- Understand better how the new Trusts Act will affect trustee behaviour.
- Gain practical tips on how to ensure you’re ready for implementation of the Trusts Act on 30 January 2021.
Who should view?
All lawyers who act as independent trustees and all practitioners who advise trustees on their duties and obligations.
Access details will be delivered via email within 15 minutes.
Bill Patterson LLB, LLM(Hons) TEP is a managing partner at Patterson Hopkins, a boutique Auckland law firm. He practises in the areas of property, trust and commercial law, and has a wealth of expertise in a range of estate, family and relationship property matters.
Bill is a member of the international lawyers network, AEA and was in September 2010 made a distinguished member of ADLS for his work in all these fields. His book, Law of Family Protection and Testamentary Promises in New Zealand, is in its fourth edition.
Vicki Ammundsen Trust Law Limited
Vicki is the director at Vicki Ammundsen Trust Law Limited, which she established in 2015, and the author of a number of books on trusts and trustees including Taxation of Trusts, ed 3, Trustee Liability and the Trustee’s Handbook, ed 4 (all CCH New Zealand Limited).
She has presented at conferences in New Zealand and internationally on wills and estates, trusts and the law of equity. Vicki also produces the blog Matters of Trust as a resource to share up to date trust law knowledge.
Vicki uses her day to day experience with trusts and estates and her deep knowledge of New Zealand and international case developments to underpin her practical, solutions-focussed approach to dealing with trust and family law issues.
She firmly believes that trusts have an important role to play in inter-generational asset management, but that this is risked by a lack of understanding of effective or appropriate trust management that too often leads to misunderstanding or abuse.
Andrew Steele has 30 years' experience in litigation in New Zealand and the United Kingdom. Previously a partner at Chamberlains, Andrew became a partner with Martelli McKegg Lawyers in 2006. He is Chair of the ADLS Civil Litigation Committee and a member of the ADLS Trust Law Committee. He has presented seminars for the NZLS, ADLS, STEP and CCH in a variety of property, trust and estate related topics. He is the lecturer and examiner of the estate litigation component for the STEP diploma.