Estate Planning, Succession and Disputes Symposium
213NZA37: In response to the many significant changes in estate planning, succession law and trusts in the past 18 months, this information packed day will provide you with in-depth discussions around the different areas of effective estate planning in this new era. You will explore the re-emergence of will drafting as the primary asset planning tool, how to structure intergenerational arrangements and asset planning for blended families and understand the impact of relationship property claims.
Description
Attend the full day and earn 7 CPD hours
Session 1
Refining Your Estate Planning and Succession Practice
Chair: Timothy Orr, Partner, Martelli McKegg
9.00am to 9.05am Opening Comments by the Chair
9.05am to 9.50am Effective Will Drafting
With the changes to Trust Law, Wills are back in favour as a primary asset planning measure. So it is a good time to brush up on your skills in this area. A Will must be part of the global asset planning structure. They should be easy to administer. It needs to be understood that here is a real difference between instruction taking and order taking. The family of the insistent client will not thank you after the fact if a will fails or is time consuming and expensive to administer. Those taking wills instructions need to get comfortable with difficult conversations with clients.
- This practically based session will provide you with tips and discuss pitfalls.
Presented by Henry Stokes, General Counsel, Theresa Donnelly, Legal Services, Manager Perpetual Guardian
9.50am to 10.35am Intergenerational Financial Arrangements and Gifts or Loans to Children and Estate Planning
- Structuring family arrangements: Loan, gift, ownership interest?
- Section 21 agreements: how to draft for longevity and avoid pitfalls
- Use of trusts in structuring intergenerational arrangements
- Trusts Act 2019: opportunities for planning
Presented by Mary-Joy Simpson, Partner and Emma Tonkin, Partner, Hesketh Henry
10.35am to 10.50am Morning Tea
10.50am to 11.35am Asset Planning for Blended Families
Families in NZ are nowadays commonly “blended” when parents enter into new relationships following the separation or death of a spouse or partner. This can create legal complexities especially where couples bring wealth from a former relationship into a new relationship and there are children from those former relationships who have expectations about how the wealth ought to be managed, used, enjoyed, and ultimately distributed.
This presentation will explain:
- how the law can apply to family wealth held in such circumstances
- what steps can be taken to manage children’s expectations and avoid unintended consequences [JS1] [AT2]
Presented by Henry Brandts-Giesen, Partner, Dentons Kensington Swan
11.35am to 12.20pm Relationship Property Claims and the Impact on Estate Planning
Receive a timely update on the relationship property issues that you need to be aware of when estate planning for your clients.
Presented by Ross Knight, Barrister
12.20pm to 1.05pm Having the Philanthropic Conversation
- The philanthropic landscape in New Zealand
- International research on philanthropy
- The different ways clients can give and philanthropic options available (including donor-advised funds and perpetuity models)
- How to discuss philanthropy and ways to frame the conversation
Presented by Eleanor Cater, Executive Director Community Foundations of NZ and Liz Koh, Author, Financial Advisor and Deputy Chair, Nikau Foundation
1.05pm to 1.15pm Final Q&A and Closing Comments by the Chair
Learning Objectives
- Gain valuable and practical will drafting tips
- Consider how to structure intergenerational financial arrangements and gifts or loans
- Examine how to best asset planning for blended families
- Receive guidance on relationship property claims and the impact on estate planning
- Consider how to best approach having a philanthropic conversation
Session 2
Trust Law Update: Practical Challenges and Managing Disputes
Chair: Theresa Donnelly, Legal Services Manager, Perpetual Guardian
2.00pm to 3.00pm Trustee Obligations Following the Trusts Act 2019 Coming into Full Force and Effect
- What is the new reality?
- Giving basic trust information
- Responding to information requests
- Modifying default powers
- Trustee retirement and removal
- Liability and indemnities
- Settling new trusts
Presented by Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited
3.00pm to 4.00pm The Trusts Act 2019 and Potential Challenges to Trustee Decisions: How Do Traditional Protections Fare?
- Why have a memorandum of wishes?
- Will a memorandum of wishes protect a trustee decision?
- Do ‘company trustees’ offer protection to directors who, effectively, make a ‘trustee’ decision?
- What practical steps might a trustee take to better defend their decisions?
- Are trustee indemnities effective protection?
Presented by Andrew Steele, Barrister, Princes Chambers
4.00pm to 4.15pm Afternoon Tea
4.15pm to 5.15pm Alternative Dispute Resolution and Trustees
- What are the ADR options available:The Trusts Act 2019
- The ability of trustees to refer disputes to ADR
- Trustees participating in and implementing settlement of disputes
- Settlements involving minor beneficiaries or those lacking capacity
Presented by Kate Sullivan, Partner and Becky Brown, Senior Associate, Tompkins Wake
Learning Objectives
- Consider the role of Trustee following the Introduction of the Trusts Act 2019
- Examine potential challenges to trustee decisions
- Receive a timely update on alternative dispute resolution and trustee obligations
Presenters
Timothy Orr, Partner, Martelli McKegg
Timothy is a partner specialising in trusts, estates, property and commercial law. Originally from Northern Ireland, Timothy graduated from the University of Dundee with a Bachelor of Laws (Honours) in 2008. He assisted an NGO at the UNHCR in Geneva and then ran a legal aid team in Mombasa, Kenya providing legal advice on a wide range of criminal and family matters. Upon returning to the UK, Timothy worked on a high profile Public Inquiry under a former Court of Appeal Judge. Arriving in New Zealand in 2010, Timothy qualified as a lawyer in New Zealand and was a manager for ADLSI responsible for overseeing a wide range of legal forms and precedents including the standard Agreement for Sale and Purchase of Real Estate and the Deed of Lease. Timothy also worked closely with various Ministries, the Law Commission and the Courts on a wide range of law reform issues, particularly those relating to trusts and property law. Timothy then worked as a Senior Solicitor in a well-established medium sized law firm in Auckland specialising in trusts, estate and property law.
Henry Stokes, General Counsel, Perpetual Guardian
Henry Stokes has been in private practice and acted as in-house counsel for a combined period of over 20 years. He is currently General Counsel, for Perpetual Guardian. Henry specialises in the areas of wills, estates, trusts (both family and charitable) and protection of personal and property rights matters, including appearing in the Family Court, High Court and Court of Appeal. Henry advises on all areas from the preparation and implementation stages through to the disputes, claims and proceedings stages. Henry is an advocate for the trustee industry working together to provide world class trustee services to New Zealanders and is focused on the industry being fully prepared for the new Trusts Act 2019 implementation date of January 2021.
Theresa Donnelly, Legal Services, Manager, Perpetual Guardian
Theresa Donnelly graduated from Auckland University in 1992 and has over 27 years’ experience in private practice, government and in-house Legal. Theresa is currently the Legal Services Manager at Perpetual Guardian, and is a recognised Elder Law expert. Theresa is formerly from Public Trust (Team Leader) and the Ministry of Social Development, where she was lead Senior in their Public Law Team responsible for advice in relation to Older People’s Policy and the Office of Senior Citizens. She is a regular presenter and speaker for professional groups such as Legalwise, NZLS/CLE, ADLS, STEPS, CCH and other professional organisations.
Mary-Joy Simpson, Partner, Hesketh Henry
A specialist in trust and estate planning law, Mary Joy Simpson regularly reviews and provides advice on personal asset management plans. She is experienced in navigating issues arising for clients and families as they put in place and act under enduring powers of attorney. Mary Joy is a partner with Auckland law firm Hesketh Henry, leading their private client team. Mary Joy has previously presented CLE papers on wills, trust drafting and enduring power of attorney.
Emma Tonkin, Partner, Hesketh Henry
Emma specialises in private wealth, real estate and overseas investment. She principally advises clients on their property rights and obligations; whether they arise through being a settlor, trustee or beneficiary of a trust. relationships between spouses, civil union partners and de-facto partners, investment in New Zealand real estate or land related assets; or lending or borrowing within families. Emma has advised on a wide variety of business and lifestyle assets including forestry, coastal farmland, quarry/mining assets and greenfield residential development. This expertise is valuable for clients because so many of these assets are held in New Zealand through trusts.
Henry Brandts-Giesen, Partner, Dentons Kensington Swan
Henry is the Head of Private Wealth at Kensington Swan. Henry's advisory practice encompasses family business succession planning, family trusts, foreign trusts, residency by investment, estate planning, relationship, property agreements, superannuation, energy trusts and employee share schemes. Henry is an expert in fiduciary risk management, FATCA/CRS, and AML/CFT. He is retained by a number of financial institutions, energy, trusts, law firms and accountancy firms to advise on these matters. Henry is also frequently involved in applications to court and disputes concerning, trusts. Henry is a member of the Society of Trusts & Estates Practitioners, and a co-author of the New Zealand Master Trusts Guide (2011, 3rd, Edition, published by CCH).
Ross Knight, Barrister
Ross is widely considered to be one of New Zealand’s leading advocates in Relationship Property and Trust Law. With over 30 years’ experience presenting cases in the Family Court, High Court and Court of Appeal, Ross is frequently retained on complex matters involving significant assets, both in New Zealand and overseas. He has developed an excellent network of likeminded professionals, whom he can call upon as and when required, such as investigators, mediators, forensic accountants, property valuers, investment advisors and health professionals. Continuing legal education has always been a significant driver in Ross’ professional life. He holds both Bachelor and Master of Laws degrees from The University of Auckland. He contributes editorial to industry and commercial publications.
Eleanor Cater, Executive Director, Community Foundations of NZ
Eleanor Cater heads Community Foundations of New Zealand, the collective of NZ’s 17 community foundations, working to grow philanthropic funds in communities nationwide. Community foundations specialise in the management of bequests as gifts to communities and have stewarded over 700 of these gifts to be invested for future community transformation. With a background of 25 years in marketing and communications, Eleanor has spent the past decade working for purpose and impact, marketing for causes, national charity fundraising and is a grant-maker on local boards in her home city of Porirua. She is driven by the changemaking work of effective philanthropy, which she sees as vital for New Zealand’s future.
Liz Koh, Author and Financial Advisor, Deputy Chair, Nikau Foundation
Liz is a Certified Financial Planner, Chartered Accountant and Chartered Director and is based on the Kāpiti Coast. Liz is well known as a writer and commentator in the area of personal finance. She is actively involved in her local community, being a long-standing member of Kāpiti Rotary and Chair of the Kāpiti Economic Development Agency. Liz has three adult daughters and enjoys gardening, music and genealogy in her spare time.
Vicki Ammundsen, Director, 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. 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, Barrister, Princes Chambers
After 32 years as a solicitor and 14 years as a litigation partner with a well-known firm, Andrew Steele begin practice as a barrister sole in 2020. Andrew has over 30 years' experience in civil litigation and was a partner at Chamberlains, before becoming a partner in 2006. Andrew regularly appears as lead counsel in the District and High Courts, the Employment Relations Authority and Employment Court. He has made multiple appearances in the Court of Appeal in Auckland and Wellington and has represented clients in a variety of trust and estates proceedings and disputes, as well as commercial and property disputes and employment relationship problems.
Kate Sullivan, Partner, Tompkins Wake
Kate is a partner in Tompkins Wake's Disputes Team. Kate specialises in trust law and relationship property disputes involving claims against estates and trusts.
Becky Brown, Senior Associate, Tompkins Wake
Becky specialises in dispute resolution (civil litigation), with her particular areas of expertise including insolvency litigation, contractual disputes, insurance-related litigation, and debt recovery. Becky also advises on all aspects of employment law and assists both employers and employees to resolve employment relationship problems. Becky provides clients with advice on a range of complex insolvency related matters including liquidations, bankruptcies, and voidable transactions. She has appeared in the Court of Appeal, High Court, and District Court on a wide range of commercial matters as well as the Employment Relations Authority. Becky also has experience in alternative dispute resolution, having helped clients successfully settle commercial and employment disputes through the mediation process.
Venue
Cliftons
Level 4/45 Queen Street
Auckland CBD
Auckland 1010
New Zealand
Parking
Parking is not included in your registration. Nearby options are:
- Downtown Carpark (4 min walk) Click here for rates
- Britomart Carpark (10 min walk) Click here for rates
Directions
CLOSEST TRAIN STATION - Britomart Station, 600m (5 min walk)
CLOSEST BUS STOP - Multiple stops on Queen St and Customs St (1 min walk)