Records include:
o Appointment of trustees
o Applications for new trusts, replacement trusts, variations to trusts and supporting
information
o Vesting orders
o Copies of court minutes
o Court orders
o Trust reports and accounts
o Trust correspondence with the Court
Consolidation records: Consolidation was the process whereby scattered interests in small,
usually unprofitable blocks of land were brought together into larger sha...
When the court reviews the trust, it may:
(a) make directions to the trustees;
(b) confirm the trustorder without variation;
(c) vary the trustorder; or
(d) make an order terminating the trust.
Where
a member of a family is not included and
does not contribute shares to the trust, it
is important that the whānau trustorder
does not inadvertently include that person
as a beneficiary 29.
Where
a member of a family is not included and
does not contribute shares to the trust, it
is important that the whānau trustorder
does not inadvertently include that person
as a beneficiary 29.
Where that land is vested in a trust or an incorporation,
such an order will only be made with the consent of the trust
or management committee, and may be made for a specified
period.
The Benefits Notwithstanding the very lengthy amount of time it took to form the whānau trust and the ongoing administration, what have been the benefits of forming the whānau trust?
Their powers, rights, and obligations are set
out in the trustorder.
Trustees must not spend money unnecessarily or without
proper authority, as this is a breach of the trustorder.
Their powers, rights, and obligations are set
out in the trustorder.
Trustees must not spend money unnecessarily or without
proper authority, as this is a breach of the trustorder.
Their powers, rights, and obligations are set
out in the trustorder.
Trustees must not spend money unnecessarily or without
proper authority, as this is a breach of the trustorder.
