Trust Series 2025 - Trustee Duties and Powers
1.5 CPD Hours
Description
Join this practical evaluation as we explore trustee duties under the Trusts Act, how they can be modified, adviser responsibilities, and what happens when duties are breached.
“It is important to recognise … there are two separate stages: breach of fiduciary duty; and the consequences of that breach. The latter comprises what one can regard as the causal effect of the breach on the decision made but also includes the court’s remedial discretion as to whether or not to set aside the disposition...”
“…it was common ground that a trustee is not in breach of duty by failing to consult with a potential beneficiary…”
Dawson-Damer v Grampian Trust Company Limited at [66] and [71]
HIGHLIGHTS
This webinar, which will conclude with a question-and-answer session, will consider:
- The mandatory and default duties contained in the Trusts Act
- The extent to which default duties can be modified or excluded
- Adviser obligations relating to the modification or exclusion of default duties
- Breach of duties
- The consequence of breach, and
- When inadequate deliberation will amount to a breach of fiduciary duty.
The webinar will also include an update with respect to relevant case law.
WHY ATTEND
The introduction of mandatory and default duties has directed a granular consideration of default and mandatory duties. However, it is important to consider duties and breach in a wider construct. Trustees are held to a high standard, but not one of perfection. This webinar will analyse the characteristics of actionable breaches
LEARNING OUTCOMES
Attendees will learn:
- How to advise trustees with respect to default and mandatory duties
- Specific considerations with respect to trustees who are beneficiaries
- The extent to which default duties can be modified or excluded
- The parameters of reasonable steps to ensure a settlor is aware of the meaning and effect of any exclusion or modifcation of default duties
SUITED TO
This webinar is targeted at practitioners at all levels but will be of particular benefit to practitioners who advise trustees or who are trustees or directors of trustee companies.
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.