Trusts and Estates Symposium
Issues covered include: Trust, relationship property, trust restructuring, resettlements, trustee, trust administration, estates, capacity, powers of attorney
Description
With 300,000 to 500,000 trusts operating in New Zealand and a new Trusts Bill introduced to Parliament in the recent past that has the potential to deliver wide-ranging impacts, it is hardly surprising that ‘trusts’ feature front and centre on this programme. This conference blends an intensive session on trusts with a practical look at estates cases and capacity challenges to give you a macro view of the key issues in this area. Hear from some of Auckland’s leading practitioners on highly relevant topics
Attend and earn 7 CPD Hours
This symposium was recorded in NZ on 20 March 2019
Session 1
Trust Law Intensive
Chair: Ross Knight, Partner, TGT Legal
9.00am to 10.00am: Recent Developments in Trusts: Trust Law Reform
- Consideration of why and how trusts are traditionally set up and run
- Some issues with the traditional approach
- Key features of the Trusts Bill
- A look into the future for trusts in NZ
Presented by Mary Joy Simpson, Partner and Emma Tonkin, Special Counsel, Hesketh Henry
10.00am to 11.00am: Law Commission: Relationship Property Law and Trusts
Examine the implications of the Law Commission’s review of relationship property law in relation to trusts and what the recommendations will mean going forward.
Presented by Zara Matheson, Barrister, O’Connell Street Barristers
11.00am to 11.15am Morning Tea
11.15am to 12.15pm: Trust Restructuring and Resettlements: Generational Change
As families grow and generational change occurs, trusts often need to be restructured and/or resettled. Restructurings and resettlements can raise a number of practical issues including:
- The adequacy of trustee powers to effect the restructuring or resettlement
- Options for Court approval of proposed actions
- Application of Saunders v Vautier principles and consideration of rights of beneficiaries including minors and unborn beneficiaries
- Practicalities of obtaining the consent of beneficiary groups including use of Deeds of Family Arrangements
- Whether the proposed restructuring gives rise to increased risks of successful challenge under relationship property laws and what steps can be taken to limit any such risks
Presented by Jarrod Walker, Partner, Chapman Tripp
12.15pm to 1.15pm: Trust Administration
This practical and informative session will provide practical guidance on trust administration by reference to best practice, current case law and the Trusts Bill.
Presented by Vicki Ammundsen, Director, Vicki Ammundsen Trust Law
Learning Objectives
- Be updated on the Trusts Bill, and the practical aspects of new legislation
- Gain an insight into Law Commission: Matrimonial Property Law and Trusts
- Understand the mechanics of a trust restructure or resettlement in the event of a generational change
- Examine and understand the tips and traps relating to trust administration
Session 2
Estates and Trusts Case Law Update and Capacity Challenges
Chair: Stephanie Ambler, Partner, Tompkins Wake
2.00pm to 3.00pm: Capacity Issues for Wills, Trusts and Powers of Attorney
There are different tests for capacity for each of these areas, and also different levels required within the areas. For example, minor changes to a will may require less capacity than that required for a complex will. Lawyers are not experts in the field of capacity assessment but need to contend with these issues daily. It can get confusing when an assessment for one purpose purports to be used for another. As our trusts age, so do our trustees, and trustee issues aren’t just about capacity, but also about understanding so they aren’t just ‘ride along’ trustees. This session takes an in-depth look at some of the challenges and provides practical tips.
Presented by Henry Stokes, General Counsel and Theresa Donnelly, Senior Solicitor, Public Trust
3.00pm to 4.00pm: Estates and Trusts Case Law Update
Join Anthony Grant as he examines the latest case Law developments and unreported trusts and estates cases that practitioners need to know.
Presented by Anthony Grant, Barrister
4.00pm to 4.15pm Afternoon Tea
4.15pm to 5.15pm: Case Study: Trusts in 2019
- Dealing with blended families and other modern family nuances
- Ensuring trust terms are correct
- To gift or not to gift
Presented by Tammy McLeod, Managing Director, Davenports Harbour
Learning Objectives
- Gain a better understanding of capacity issues in legal documents
- Be updated on recent case developments and unreported cases
- Take a deep dive into case studies on blended families, trust terms and gifts