The Law Association of New Zealand



Winding Up a Trust – Duties & Responsibilities (2026) (On Demand)

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This On Demand was recorded on 31 March 2026.

Whatever the reason for a trust being wound up, and the circumstances and personalities involved, there are various issues to manage. Are the purposes of the trust being met, are trustees seeking indemnities, might a new trust be created and/or additional beneficiaries be proposed?

Drawing on their extensive experience, and using realistic examples and case studies to illustrate points, the presenters will explore a range of potential issues from legal and tax & accounting perspectives, such as:

  • Trustees’ duties and responsibilities during and following wind-up
  • Beneficiary rights and fiduciary duties owed to them
  • How trust documents are dealt with, and to whom they can be disclosed
  • Dealing with the implications if one or more of the parties is living overseas
  • What assets are being distributed and how to deal with those not distributed 
  • Whether the Trusts Act 2019 continues to have application to an obsolete entity
  • Distributions triggering tax liabilities, tax liabilities associated with property in a trust, and getting matters finalised with IRD and other entities
  • When trustees should seek specialist advice

Learning Outcomes

In respect of winding up a trust:

  • Refresh your understanding of the circumstances in which a trust might be wound up.
  • Improve your knowledge of trustees’ duties and responsibilities during and following wind-up, and of beneficiary rights and fiduciary duties owed to them.
  • Delve into how trust documents are dealt with, and to whom they can be disclosed.
  • Get to grips with the implications if one or more of the parties is living overseas.
  • Become better apprised of the detail involved, including what assets are being distributed, how to deal with those not distributed, whether the Trusts Act 2019 continues to have application to an obsolete entity, when indemnities might be appropriate and their scope, and what tax liabilities might be triggered or be altered (such as bright-line).
  • Better understand how to approach finalising matters with IRD and other entities, and how to do so.
  • Develop a better appreciation of when trustees should seek specialist advice.


Who Should Watch?

Anyone who advises on or administers trusts.


Presenters

Vicki Ammundsen | Director, Vicki Ammundsen Trust Law Limited
Roger Thompson | Director, Bentleys Chartered Accountants Limited


Roger Thompson

Roger is a founding partner of Bentleys Chartered Accountants Ltd and has specialised in tax for over 40 years as a Chartered Accountant and also previously as a Lawyer. He is an author of the CCH Book A Practical Guide to Taxing Property Transactions and has presented many seminars on taxation issues relating to property. Roger regularly provides services relating to property tax issues including advice, dispute resolution and acting as an expert witness on negligence claims and other accounting or tax-based matters.

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Vicki Ammundsen

Vicki is the director of Vicki Ammundsen Trust Law. In addition to providing trustee services Vicki advises on all areas of trust and estate law and practice including contentious trusts and estates. Vicki is the author of a number of texts including Taxation of Trusts, Trustee Liability, The Trustee’s Handbook, The Residential Care Subsidies Handbook and A Practical Guide to Legal Issues for Older People. As well as being a highly regarded conference and webinar presenter, Vicki also maintains the blog 'Matters of Trust'.

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Details

CPD Hours: 1.50hr

Pricing Details

Ticket Price

Member: $160 plus GST
Non-Member $230 plus GST



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