5 Jun 2020
LAW v LAW [2020] NZHC 1243
- Citation
- [2020] NZHC 1243
- Court
- High Court
The court held the settlor's memorandum, read as a whole, showed the $500 weekly payment to the survivor was intended to ensure her financial security and was not limited to being paid only from trust income; the trustees had therefore acted on an incorrect interpretation and the court gave directions ordering sale of the existing property and purchase of a Masonic Trust Village property to be held in the adult children's names with a protected life occupation right for the first respondent, a $20,000 lump sum to her, adult children to meet outgoings, and equal distribution of remaining trust…