3 Jun 2022
DARYN TURVEY v DAVID VANCE [2022] NZHC 1167
- Citation
- [2022] NZHC 1167
- Court
- High Court
The Court rectified the 2001 deeds to reflect the settlors' intention, applied the established s133 'blessing' framework and found the trustee's proposed distribution and quantified adjustments were within the range of reasonable decisions on the evidence (relying on valuer and builder reports and Dobson J's directions). The $65,050 advance was treated such that repayment was recognised in distribution calculations but, because of limitation and notional settlor risk, Daryn's personal entitlement must be held in trust for his daughters until age 18; the s126 application was dismissed.