1 Mar 2019
MONK AND ANOR v BURGESS & ORS [2019] NZHC 324
- Citation
- [2019] NZAR 534
- Court
- High Court
Clause 4 of the will required payment of just debts, funeral and testamentary expenses (including executors' reasonable legal costs) before ascertaining the residuary estate; therefore executors must deduct their reasonable costs as testamentary expenses prior to determining the residue and may not, by direction of this Court, charge their indemnity solely against Warwick's share; the application to direct full deduction from Warwick's share was declined, but executors remain entitled to indemnity in accordance with the will.
- Trustee indemnity
- Testamentary expenses
- Apportionment of costs among beneficiaries
- Interpretation of wills
- High court directions
- Trustee act s38(2) and s66