Video
It Depends – Can trust cloning be used to transfer assets between trusts without duty or CGT?
Trust cloning strategy is unique to Queensland, so if the asset is in Qld, trust cloning may be a useful strategy.
Cooper Grace Ward
- Article
It Depends – Should I be the settlor of a trust?
Transcript & link to video discussing what the settlor of a trust is & who should act in that role.Cooper Grace Ward - Video
It depends – Should the appointor of my family trust be a company?
An appointor has the power to remove an unsuitable or ineffective family trustee and appoint a replacement.Cooper Grace Ward - Video
SMSFs – Court rules on trusteeship with death and incapacity
The NSW SC has confirmed how trusteeship of an SMSF works where a member and trustee loses capacity and then dies.Cooper Grace Ward - Article
Tax whack turns the solvent to insolvent!
Clients must ensure they have procedures which will maintain proper corporate governance, especially in times of dispute.
Worrells - Article
The Court declines to give commercial advice in respect of a professional trustee application
The advice of the Court is often sought where a trustee is uncertain as to the proper construction of the trust instrument.Kemp Strang Lawyers - Article
Family trust elections (FTEs) - Are your client trust distributions within their family group?
For those trusts that made a family trust election (FTE), getting trust distributions wrong can have major implications.Cooper Grace Ward - Article
It Depends: Family trust change of trustee (Part 1 – Beneficiaries)
Part 1 discusses whether you should change the trustee of your family trust if they are to be a beneficiary.Cooper Grace Ward - Video
It Depends – Family trust change of trustee (part 2 – change method)
To change the trustee of a family trust, you must follow exactly what the trust deed says, or it could be ineffective.Cooper Grace Ward - Video
It Depends – Family trust change of trustee (part 4 – assets)
The fourth video in the series discusses asset location and how that may affect a change of trustee.Cooper Grace Ward - Article
It Depends – Family trust change of trustee (part 6 – stamp duty)
The sixth and final video in the series discusses stamp duty implications of changing the trustee of your family trust.Cooper Grace Ward - Article
Making financial arrangements for incapable persons in NSW
The NSW Trustee or anyone with a genuine concern for the welfare of a person may apply for a financial management order.Coleman Greig Lawyers - Article
Stamp duty on transferring assets of a deceased estate
How does section 63 of the Duties Act 1997 (NSW) affect the distribution of assets to beneficiaries of a deceased estate?Carroll & O'Dea - Article
The second generation: family trusts and estate planning
Family trusts can be valuable in asset ownership, however, they must be appropriately addressed in succession planning.Kells - Article
APRA releases enhanced governance requirements for superannuation trustees
SPS 510 will take effect on 1 July 2017, but APRA expects RSE licensees to consider the guidance in SPS 510 immediately.
Corrs Chambers Westgarth - Article
Director disqualified for breach of SMSF rules
This case affirms the stringent standards expected of a director of a corporate trustee of an SMSF.ClarkeKann Lawyers - Article
The importance of getting the details right in SMSFs – Fitzmaurice and Commissioner of Taxation
The SMSF director was disqualified, although funds were not depleted and there was no dishonesty or intention to defraud.Cooper Grace Ward - Article
Family trusts not bulletproof - or safe from creditors in an insolvency
A trustee in bankruptcy (or a liquidator in an insolvency) has wide ranging powers to seek orders to claw back assets.Bartier Perry Solicitors - Article
Unclaimed trust funds
For repayment plans, ensure that you maintain current contact information and payment records to avoid overpayments.Worrells - Article
ATO guidelines on income splitting within professional services firms
The ATO will review arrangements used by professional services partnership firms operating through discretionary trusts.Moore Australia
