1.25 CPD hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $180.00 excl. GST

Description

This popular webinar, which will include a case book will consider recent case law developments, canvasses how and why trustee liability arises, what trustees can do to protect themselves and the extent to which trustees can limit their liability and seek indemnity from the trust fund.
The impact of the (draft) Trusts Bill on trustee liability will also be considered.
HIGHLIGHTS
This webinar, which will conclude with a question and answer section, will utilise a case study to demonstrate how trustee liability arises and the practical steps that can be taken to manage the risks of trusteeship.
Topics covered will include:

  • The risks of trusteeship 
  • Sources of trustee liability 
  • Common breaches of trust 
  • Contracting out of trustee liability 
  • Rights of indemnity – how to lose them – how to enforce them 
  • Corporate trustees 
  • Retirement to avoid liability – the hows, the whys, the cost and how will the Trusts Act help 
  • Court costs 
  • Case law up-date 
  • Traps for trustees 

Cases covered will include: Commissioner of Inland Revenue v Robertson [2017] NZHC 31; Davis v White (Costs Judgment) [2016] NZHC 500; McLaren v McLaren [2017] NZHC 181.

WHY ATTEND
Although it is common for a deed of trust to limit a trustee’s liability to the assets of the trust, many circumstances can arise where a trustee is personally liable for losses. Accordingly, it is essential that trustees (and their advisers) understand and manage the risks inherent in the appointment as a trustee.

LEARNING OUTCOMES

Attendees will learn:

  • how trustees incur liability
  • how to identify and address breaches of trust
  • how liability is shared between co-trustees
  • the steps trustees can take to insulate themselves from personal risk
  • the extent to which trustees can be indemnified from the deed of trust
  • how rights of indemnity can be compromised – what is permissible in terms of the (draft) Trust Bill and what is not
  • how to protect trustees from risk

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.

ORIGINAL BROADCAST DATE

14 June 2017

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited