This On Demand was recorded on 15 February 2023.

Do you provide corporate trustee services? Are you wearing “two hats” and also acting as the lawyer for the trust? Who are the directors of the corporate trustee? Are trustee decisions being made in accordance with the corporate trustee’s constitution? Is the corporate trustee’s shareholding structure appropriate? Does the corporate trustee have multiple appointments and if so, what advice have you given the settlors / appointors / trustees (as relevant) of the possible risks? If the corporate trustee has not been constituted in line with the terms of the relevant trust, are there previous decisions that require ratification?

This On Demand will address these and other practical issues to be aware of when acting as a corporate trustee, including implications for your firm’s PI insurance, practical ramifications of the Court of Appeal decision in Legler v Fomannoij, trustees’ duties and FATCA obligations.

Who should view?

All lawyers and other professionals who offer corporate trustee services, as well as lawyers of all levels who act as advisors for trusts.

Learning Outcomes

• Gain a better understanding of corporate trusteeship.
• Learn how to mitigate risk through good governance.
• Understand the risk of wearing “two hats” as director of a corporate trustee and lawyer for the trust.
• Gain insights into corporate trustee structure, such as who should be the directors and shareholders, the importance of the shareholder role and significance of company structure for your firm’s PI cover.
• Learn about the risks of multiple trust appointments and how to advise clients appropriately.

Presenter Details

Presenter

Vicki Ammundsen | Director, Vicki Ammundsen Trust Law Limited

Presenter

Theresa Donnelly | Legal Services Manager, Perpetual Guardian