VideoIt 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.AustraliaCorporate/Commercial LawCooper Grace Ward
ArticleIt 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.AustraliaCorporate/Commercial LawCooper Grace Ward
VideoIt 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.AustraliaCorporate/Commercial LawCooper Grace Ward
VideoSMSFs – Court rules on trusteeship with death and incapacityThe NSW SC has confirmed how trusteeship of an SMSF works where a member and trustee loses capacity and then dies.AustraliaCorporate/Commercial LawCooper Grace Ward
ArticleTax whack turns the solvent to insolvent!Clients must ensure they have procedures which will maintain proper corporate governance, especially in times of dispute.AustraliaCorporate/Commercial LawWorrells
ArticleThe Court declines to give commercial advice in respect of a professional trustee applicationThe advice of the Court is often sought where a trustee is uncertain as to the proper construction of the trust instrument.AustraliaCorporate/Commercial LawKemp Strang Lawyers
ArticleFamily 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.AustraliaFamily and MatrimonialCooper Grace Ward
ArticleIt 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.AustraliaFamily and MatrimonialCooper Grace Ward
VideoIt 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.AustraliaFamily and MatrimonialCooper Grace Ward
VideoIt 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.AustraliaFamily and MatrimonialCooper Grace Ward
ArticleIt 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.AustraliaFamily and MatrimonialCooper Grace Ward
ArticleMaking financial arrangements for incapable persons in NSWThe NSW Trustee or anyone with a genuine concern for the welfare of a person may apply for a financial management order.AustraliaFamily and MatrimonialColeman Greig Lawyers
ArticleStamp duty on transferring assets of a deceased estateHow does section 63 of the Duties Act 1997 (NSW) affect the distribution of assets to beneficiaries of a deceased estate?AustraliaFamily and MatrimonialCarroll & O'Dea
ArticleThe second generation: family trusts and estate planningFamily trusts can be valuable in asset ownership, however, they must be appropriately addressed in succession planning.AustraliaFamily and MatrimonialKells
ArticleAPRA releases enhanced governance requirements for superannuation trusteesSPS 510 will take effect on 1 July 2017, but APRA expects RSE licensees to consider the guidance in SPS 510 immediately.AustraliaFinance and BankingCorrs Chambers Westgarth
ArticleDirector disqualified for breach of SMSF rulesThis case affirms the stringent standards expected of a director of a corporate trustee of an SMSF. AustraliaFinance and BankingClarkeKann Lawyers
ArticleThe importance of getting the details right in SMSFs – Fitzmaurice and Commissioner of TaxationThe SMSF director was disqualified, although funds were not depleted and there was no dishonesty or intention to defraud.AustraliaFinance and BankingCooper Grace Ward
ArticleFamily trusts not bulletproof - or safe from creditors in an insolvencyA trustee in bankruptcy (or a liquidator in an insolvency) has wide ranging powers to seek orders to claw back assets.AustraliaInsolvency/Bankruptcy/Re-StructuringBartier Perry Solicitors
ArticleUnclaimed trust fundsFor repayment plans, ensure that you maintain current contact information and payment records to avoid overpayments. AustraliaInsolvency/Bankruptcy/Re-StructuringWorrells
ArticleATO guidelines on income splitting within professional services firmsThe ATO will review arrangements used by professional services partnership firms operating through discretionary trusts.AustraliaTaxMoore Australia