Trust Series 2024 – Winding up a Trust - 6 November 2024 (On Demand)

Join our comprehensive webinar to master the intricacies of winding up trusts, focusing on trustee powers, duties, and essential documentation, with insights from contemporary case law and practical workflow processes

A trust can be wound up:

• following final vesting
• as an exercise of trustee discretion
• pursuant to the rule in Saunders v Vautier, or
• pursuant to part 6 of the Trusts Act 2019

Whatever the basis for the wind up there are practical considerations to address. This webinar will consider when and how trusts can be wound up with specific focus on trustee powers and duties in the context of the end stages of a trust.

HIGHLIGHTS
This webinar, which will refer to contemporary case law and conclude with a question and answer section, will utilise work- flow processes relevant to the different ways trusts can be wound up. The materials provided include a workbook containing useful precedent wind up documents.

Topics covered include:

• trustee discretion before final vesting
• practical ramifications of vesting
• the mechanics of winding up a trust
• tax considerations
• accounting requirements
• documentation
• corporate trustee considerations
• appropriate indemnities, and
• post wind up record keeping.

Cases considered include:

• Innes v Darlow [2024] NZHC 2614
• Wiggins v Wiggins [2024] NZHC 863
• Queenin v Queenin [2024] NZHC 1035
• Sherwin v JKA Holdings Limited & Ors [2024] NZHC 920
• Kain V Public Trust [2023] NZHC 2535
• Ryan v Lobb [2023] NZHC 689
• Grand View Private Trust Company v Wang UKPC [2022] 47
• Nadan v Sharma [2022] NZHC 2553
• Valentini v McGowan [2021] VSC 154

ORIGINAL BROADCAST DATE

6 November 2024

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 to ensure that the trustees adopt a suitable decision making process that will protect the trustees and properly document and record the wind up and matters flowing from this.

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 Limited.

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.