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  • Issue 21, Spring 2015 Trust eSpeaking-Trust eSpeaking-Newsletters - DGlaw
    look at the list of registered charities Click here to read the Charities Services list of registered charities Charities dont have to register but most of the main charities are registered 1 Registered charities have to file a return each year so you can have some reassurance that the money has been spent in the way that was intended Its worth checking whether a charity is registered and has published an annual return on the Services website You can then have some assurance that the money has been used properly By contrast there are few controls over pop up sites and campaigns to help individual cases of need No doubt most are well intentioned but you have no way of knowing for sure When charities go bad Despite the best intentions of the founders of a charity theres always the risk that the wrong people might get to be trustees later on In the case of a small non profit charity which is not registered theres less chance that this will come to light For registered charities there is a greater chance that someone will eventually spot the problems If someone has a complaint about misuse of charitable funds the Attorney General has the ability to intervene The Crown Law Office can bring a case on behalf of the Attorney General against a defaulting trustee of a charity Philanthropic trust funds Several of the statutory trustee companies 2 have long term charitable trust funds These are invested and the interest and other income each year is paid out for various charitable purposes These purposes are usually set out in the Will or trust deed which established the charitable trust There are a number of these trusts and some of them receive requests each year for community activities which they are able to support At least one trustee company has set up an umbrella arrangement so that individual donors can set up a medium size trust within the umbrella arrangement This can help keep down costs of ongoing investment and administration Most people however prefer to establish their own stand alone trust with their own name on it Such trusts can last for decades or can be set up as a perpetual trust ie one that can potentially last forever Creating such a trust in your Will for the benefit of further generations may be a nice way for you to be remembered as well as to support a cause close to your heart May be its time for you to update your Will Trusts Update IRD numbers required for trusts to buy and sell residential property from 1 October 2015 This could cause a problem for any trust if the sale or purchase is due to settle after that date Even if settlement is due before 1 October there is a risk unexpected delays could mean that settlement is not completed until after that date and the trustees could be caught by the new rules Trustees need to be prepared

    Original URL path: http://www.dglaw.co.nz/newsletters/trust-espeaking/issue-21-spring-2015-trust-espeaking (2016-04-27)
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  • Issue 13, September 2011 Trust eSpeaking-Trust eSpeaking-Newsletters - DGla
    other claims There is no one size fits all answer and legal advice is essential There are many other good reasons for setting up a trust Trusts are still a good way to protect your assets but you need to go about this the right way to achieve your objectives Trustee Liability As vendor under an Agreement for Sale Purchase Trustees are the legal owners of trust property and are personally liable for warranties given under an Agreement for Sale Purchase Trustees should be very careful about giving warranties They should acquaint themselves with trust property and if in doubt delete warranties from the Agreement They should also disclose relevant information to potential purchasers The dangers of failing to do this were highlighted in the recent case of Ellison v Scott4 Ms Scott and her partner purchased a property in 1988 They carried out building works without obtaining building permits or code compliance certificates Ms Scotts partner did most of the work In 1997 the property was transferred to Ms Scott In 2001 she transferred the property to a trust the trustees being herself and a trustee company In 2004 Ms Scott sold the property to Ms Ellison The Agreement described the vendor as RM Scott Family Trust Ms Scott and JSB Trustees Ltd as Trustees Ms Scott signed as vendor Ms Ellison later found there were defects in the building works and that no permits had been obtained She wanted to recover the estimated costs of repairs from Ms Scott under clause 6 2 5 of the Auckland District Law Societys Agreement for Sale Purchase 7 ed 2 July 1999 The clause reads 6 2 The vendor warrants and undertakes that at the giving and taking of possession 5 Where the vendor has done or caused or permitted to be done on the property any works for which a permit or building consent was required by law a The required permit or consent was obtained and b The works were completed in compliance with that permit or consent and c Where appropriate a code compliance certificate was issued for those works and d All obligations imposed under the Building Act 1991 were complied with In the District Court Ms Ellisons claim failed The judge decided that the trust was not the owner of the property at the time the defective works were carried out so Ms Scott could not be liable under the warranties given in clause 6 2 5 Ms Ellison appealed to the High Court High Court decision Ms Scott argued that Ms Ellison had contracted with the trust to purchase the property She contended that clause 6 2 5 only applied to works undertaken by the trust and as the trust was not the owner of the property at the time the non permitted works were completed the trust was not liable Ms Ellison argued that a trust is not a legal entity The vendors were Ms Scott and JSB Trustees Limited as trustees and they

    Original URL path: http://www.dglaw.co.nz/newsletters/trust-espeaking/issue-13-september-2011-trust-espeaking (2016-04-27)
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  • Trust eSpeaking - DGlaw
    View Article Issue 13 September 2011 Trust eSpeaking View Article Issue 20 Summer 2014 Trust eSpeaking View Article Issue 14 Summer 2012 Trust eSpeaking View Article Issue 19 Spring 2014 Trust eSpeaking View Article Issue 15 Spring 2012 Trust eSpeaking View Article Issue 12 March 2011 Trust eSpeaking View Article Issue 18 Summer Autumn 2014 Trust eSpeaking View Article Newsletters Fineprint Property eSpeaking Commercial eSpeaking Trust eSpeaking View Archive 2016

    Original URL path: http://www.dglaw.co.nz/newsletters/trust-espeaking (2016-04-27)
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  • Do you need an estimate of legal costs from DG Law, Panmure
    out the following form so DG Law can provide you with a complete Estimate of your required legal services Contact Us Estimates Open Saturdays 2016 DG Law Limited dglaw co nz 13 Queens Road Panmure Auckland New Zealand Map Phone

    Original URL path: http://www.dglaw.co.nz/contact-us/estimates (2016-04-27)
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  • Is your Will up to date?
    young children Have you had children since you signed your last Will If you have completed your family are all of your children named in your Will Do you still own jewellery furniture property or other items specifically mentioned in your Will Are all of the named people stated in your Will spelt correctly If you have adult children have you thought of leaving their inheritance to a Trust for their benefit rather than to them personally This approach can have many benefits including protecting their inheritance from relationship claims in the future If you wish to review or update your Will please email mail dglaw co nz If you do not have a Will and wish to have one please fill in the attached Will Questionnaire Please then email this to mail dglaw co nz where someone from our experienced team will contact you to discuss this further If you DON T have a Will are you aware that your spouse de facto partner may not automatically inherit your assets on your death and in some circumstances may need to share your assets with your children after your death The consequences of you not having a Will can be

    Original URL path: http://www.dglaw.co.nz/resources/is-your-will-up-to-date (2016-04-27)
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  • Incapacitated Trustees and Vesting Orders - Resources - DG Law Limited
    the continuing and to any new trustees It is the latter step that can be difficult This can be illustrated by way of an example Property A is owned by Trust B C D E are the trustees of Trust B The trustees are registered on the title of Property A E can no longer be a trustee because he lacks mental capacity E will need to be replaced or removed as a trustee Once E has been either replaced or removed he will need to also be removed from the title so that the trust asset is in the names of the continuing and new trustees The simple solution one might think is for an Enduring Power of Attorney EPA to sign the A I form in order to correct the title However Land Information New Zealand LINZ takes a different view on this point and does not believe that using an EPA is appropriate for this So now what In order to transfer the trust asset into the names of the continuing and new trustees an application to the High Court for a vesting order is required The vesting order confirms that Trust B s Property A is

    Original URL path: http://www.dglaw.co.nz/resources/incapacitated-trustees-vesting-orders (2016-04-27)
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  • The top 10 tips to ensure you obtain the best price when selling your home.
    it Have a letterbox that reflects the value of your property with large numbering so buyers can easily identify it The entrance way should be tidy and welcoming replace the doormat and make sure the doorbell works Giving the house s trim a fresh coat of paint will give it a lift without the expense of repainting the whole exterior Fix dripping gutters overflowing drains cracked windows or peeling paint Stand across the street and look at the house make sure there is nothing to put people off coming in 4 In the garden Even in winter outdoor living spaces are important Keep the grass mowed and the weeds under control Paths shoudl be clear and over hanging trees trimmed If you are able to use the garden year round show buyers with furniture or patio heaters Neil suggests supplying umbrellas on rainy days Make sure there is access to all parts of the property Put in stepping stones so people aren t up to their ankles in mud Eyles Bennett recommends low maintenance gardens If people love gardening they will probably want to create their own If they don t they don t want to see a high maintenance one that will put them off If you have a garden at the front and back of the house spruce up the front first Emphasise any indoor outdoor flow 5 Kitchen and bathroom The kitchen and bathroom are often selling points but can be where renovators blow out Eyles Bennett says most can be renovated for under 3 000 Rather than pulling out the kitchen look at what there is that can be reused She says Cabinetry can be resurfaced or repainted cheaply and bench tops and door handles replaced New appliances dramatically change a kitchen s appearance She recommends making the cabinetry neutral and adding interest with accessories Put some wow factor in the splashback handles and maybe the benchtops You can make it look fantastic by spending a bit on things like that Neil agrees small updates can make a big difference to the overall appearance In the bathroom a new coat of paint shower curtain tiles taps or a new toilet can make the room seem new The bathroom and kitchen need to be clean and light Keep things off the benchtops add shelves if there is not enough storage 6 Lighting Houses should seem light even in winter Keep curtains open and turn on lighting in rooms that are a bit dark Eyles Bennett says lighting is often under rated You don t have to have a recessed downlights just things like oyster lights or wallmounted spotlights can be really effective Stick with levels of light in the middle of the spectrum Generally a brighter room feels open and modern and a darker one cosier and romantic Use accent lighting to add drama and interest or highlight a feature 7 Cheap improvements If the budget is really tight there are ways to cut corners Eyles Bennett

    Original URL path: http://www.dglaw.co.nz/resources/tips-to-get-top-house-prices (2016-04-27)
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  • Useful Links
    about the courts try the following websites The Disputes Tribunal Family Law Section Auckland District Law Society New Zealand Law Society Courts of New Zealand For specific situations we recommend that you consult with us first as there will always be details particular to your set of circumstances For more information on the Courts click here 2016 DG Law Limited dglaw co nz 13 Queens Road Panmure Auckland New Zealand

    Original URL path: http://www.dglaw.co.nz/resources/useful-links (2016-04-27)
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