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...
Recently I have written about making a declaration of Trust Legal Tip 193: Declaration of Trust Legal Tip 193: Declaration of Trust...
A school could be a beneficiary of a Discretionary Trust if it meets the definition of beneficiary under the deed. This means it could receive...
A trust is not a legal person or a legal entity but is a relationship between at least 2 persons with obligations over property. A company is a...
For a trust to exist there must be at least one beneficiary, but there is no legal requirement that the beneficiary must be alive at the date the...
Trusts with just one beneficiary are usually bare trusts. But it is possible that a discretionary trust could have just one beneficiary. It would...
Yes, a trustee can be a beneficiary of a trust, but it can’t be the only beneficiary. The definition of a trust is someone holding some property...
I would like to tell you, but it is a secret. These are trusts, usually set up under a will, where property is left to a person on an undisclosed...
The term ‘Quistclose’ comes from the name of a company (Quistclose Investments Ltd) involved in litigation in 1970 in the UK (Barclays Bank Ltd v...
Can a Trust Distribute Franking Credits to Someone Other than the Dividend Recipient? No. Franking credits are not income as defined in the tax...
The biggest downfall with discretionary trusts is that the assets of the trust cannot be passed on via the will of the person that controls the...
We have seen that it can be possible for a discretionary trust to distribute income to a SMSF if the SMSF is a beneficiary of the trust. See my...
There is no time limit as to how long you can carry forward losses – whether income losses or capital losses, however they will be lost at death...
Strategy: Personally, Own the Shares of a Bucket Company Generally owning shares in a company in a personal name is not recommended because of 2...
I have outlined what a declaration of trust is here Declaration of Trust – The Structuring Blog and Legal Tip 193: Declaration of Trust What are...
Lawyers will always tell you that a trust is not an entity. Its a legal relationship. But many laws say otherwise. Other laws do a similar thing...
Legal Tip 193: Declaration of Trust A declaration of trust happens when the legal owner of an asset declares that they now hold that asset on...
Federal Court hands down decision in family trust case
Tax Tip 191: Tax on Trust Income not Distributed/Retained Where a trust has income and no one is presently entitled to it, the trustee of the...
I just came across these two terms when doing a bit of reading up. Seems they have become popular a few years ago and got a mention in the Panama...
Separate names with a comma.
