When a ‘trust’ gets a loan it will be the trustee that is the borrower with the directors of the trustee company giving guarantees – this is the...
It is rare, but I have seen at least one discretionary trust set up that did not have an appointor position. No one had the power to remove the...
Discretionary trusts are usually set up with someone occupying a position known as the ‘appointor’. The appointor generally has the power to...
Trusts are private affairs, the trust assets don’t pass via the will, and even the control of the trust doesn’t pass by will (except as a backup...
Question: Can someone appointed under the power of attorney exercise the Appointors powers under a discretionary trust? Answer: Yes, depending on...
Legal Tip 226: Asset Protection Risks of Trusts with No Appointors Discretionary trusts usually have a position in the trust called that of...
There are several issues which can arise when a member of a trust loses their mental capacity. Trustees – a trustee must have mental capacity to...
I often see discretionary trust deeds which nominate the next appointor, upon the death of the current appointor, to be the Legal Personal...
Strategy: Backup Appointors of Trusts People that are appointors of family trusts usually give little thought to what can happen to the trust...
The Biggest Issue with Discretionary Trusts: Succession on Death In my view, the biggest issue with discretionary trust is succession. Trust...
Legal Tip: 4 Levels of Control with Discretionary Trusts Discretionary trusts have 3 or 4 levels of control: 1. The directors of the trustee...
Appointors, Bankruptcy and Asset Protection When a person becomes bankrupt all of this ‘property’ vests in the trustee in bankruptcy. Property...
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