Trust Series 2025 - Memoranda of Wishes
1.5 CPD Hours
Description
Desire vrs Obligation! Gain practical guidance on how trustees should interpret memoranda of wishes—and how settlors can shape them effectively
As stated in Chambers v SR Hamilton Corporate Trustee Ltd at [36]:
“Settlors are entitled to express their wishes for the benefit of trustees, and trustees are entitled to take them into account. They can be important guidance to them in the exercise of discretionary powers. However trustees, whatever a settlor’s wishes, must conscientiously apply their independent discretion in exercising their powers.”
HIGHLIGHTS
This webinar, which will include a comprehensive workbook that canvases relevant case law and concludes with a question and answer section will provide practical guidance for trustees regarding what it means to “read and understand” a memorandum of wishes and for settlors who want to properly direct their wishes.
WHY ATTEND
Memoranda of wishes are commonly, but not always pro forma documents that may, or may not fully canvas a settlor’s considered wishes.
This insightful and practical webinar, which will include precedent memoranda of wishes clauses and will consider contemporary matters relating to memoranda of wishes including:
- constraints on surviving settlors
- economic settlors
- who else might give a memoranda of wishes
- legal formalities, and
- proper variation and amendment
LEARNING OUTCOMES
- The indicial of a memorandum of wishes
- How to draft a clear and relevant memorandum of wishes
- Whether trustees can comply with the settlor’s intentions as expressed in a memorandum of wishes
- Factors to consider regarding disclosing a memorandum of wishes to beneficiaries
SUITED TO
This webinar is targeted at all practitioners at all levels but will be of particular interest to practitioners who advise clients who are establishing new trusts or who deal with on-going trust administration (including lawyers, accountants and professional 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.