Trust Series - Trustee Liability 2022 | Wolters Kluwer NZ | 5 April 2022 | Webinar

Liabilities incurred by a trustee in relation to a trust are always the personal liabilities of the trustee. A creditor has a personal right to sue a trustee and to get judgment and make the trustee bankrupt.

This popular webinar, which will include a case book will consider recent case law developments, canvasses how and why trustee liability arises, the extent to which trustees can limit their liability and seek indemnity from the trust fund.

Highlights:
This webinar, which will conclude with a question and answer section, will consider the outcome of recent cases to demonstrate how trustee liability arises and the practical steps that can be taken to manage the risks of trusteeship.

Topics covered will include:
• Sources of risk
• Indemnity myths
• Liability and exemption clauses in trust deeds
• Settlor indemnities and adviser risk
• Practical considerations regarding the use of corporate trustees following the High Court decisions in Jacomb v Jacomb and Legler v Formannoij
• Defending notice of a decision to remove
• Failing to give basic trust information or to make disclosure in a reasonable period (see ss 49 to 55 of the Trusts Act). See Earl v McGuire
• Failing to meet obligations regarding core documents (see ss 45 to 48 of the Trusts Act)
• Seeking court directions for trustee comfort
• Managing court costs and exposure to costs
• Case law up-date

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.

2022 Speakers

Vicki Ammundsen
Director, Vicki Ammundsen Trust Law

2022 Partners

• Marks & Worth
• The College of Law
• Turner Hopkins
• mindbalance
• Inland Revenue
• Kiwiboss
• Employee Solution Service
• David Forman
• sboo
• Auldhouse
• advisoryboardsnz
• MBI
• EY
• bakertilly
• Governance & Secretariat Ltd
• Findex
• TEO Training
• Tomlinson Law
• Vicki Ammundsen Trust Law