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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 23052
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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We need to borrow from the trust but the only trustee who is

Customer Question

We need to borrow from the trust but the only trustee who is my father won't release any funds due his dislike of my wife. Is this legal?
Submitted: 1 year ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 1 year ago.

It depends on the trust deed and the powers of the trustee, but generally the trustee has this power to advance, in his discretion, and cannot be forced to lend to any beneficiary. It is very likely to be something which he has the power to either advance or decline without considering your needs.