12 Dec 2016
ESTATE OF JUDITH CLAIRE HAMPSON [2016] NZHC 3016
- Citation
- [2016] NZHC 3016
- Court
- High Court
Given the known seismic risk, available estate funds, and the scope of the solicitor's retainer to administer the estate, the trustee (via the solicitor) had a duty to maintain insurance; failure to renew the policy constituted a breach causing a proven loss of $205,000, wasted costs of $5,205.95 were reasonably incurred to remove the trustee, and the solicitor is liable to indemnify the co-executor for any liability arising from the absence of insurance.