Trusts and Deeds Practicum
Issues covered include: ATO, Taxation of trusts, Trust splitting, Fixed trust, distribution of capital gains, trust strutures, asset protection, sham trust, discretionary trust drafting, trust vesting and winding up, UPEs, Division 7A, loans, transfer duty on specie distributions, Trust Variations and Resolutions, Corporate Trustees, testamentary trusts.
Description
Arm yourself with in-depth knowledge by working through the critical stages of trusts and the hot issues currently impacting the area. From drafting to variation to vesting to winding up, hone your skills and expertise in each one of these areas so that you’ll be prepared to expertly handle your client’s trusts from beginning to end no matter what issues or challenges may arise.
Attend and earn 4 points in Competency Area 4: Substantive Law
This seminar was recorded in WA on 13 March 2019
Chair: Brendan Ashdown, Barrister, John Toohey Chambers
9.00am to 10.00am: What’s Attracting the Commissioner’s Attention: The Hot Issues Facing Trustees and their Beneficiaries
Focus on the Commissioner’s latest views in respect of the taxation of trusts, including:
- Reimbursement agreements
- Trust splitting
- Fixed trusts
- Distributions of capital gains to resident and non-resident beneficiaries
Presented by Jonathan Ortner and Kaitilin Lowdon, Senior Associates, Arnold Bloch Leibler
10.00am to 11.00am: Trust Structures and Asset Protection
- Business risk planning and creditor insulation
- Discretionary trusts drafting
- The Sham Trust and the viability of the asset protection trust
- Balancing act between tax planning and asset protection
Presented by Tim Pepper, Consultant, Robertson Hayles Lawyers
11.00am to 11.15am Morning Tea
11.15am to 12.15pm: Trust Vesting and Winding Up: Problems, Risks and Solutions
- Legal requirements and risks
- Common complications with assets & liabilities
- Tax implications: UPEs, loans, Division 7A, commercial debt forgiveness, returns of capital, cancellations of units
- Transfer duty on in specie distributions
- The trustee’s indemnity
Presented by Antony Barrier, Director, Munro Doig
12.15pm to 1.15pm: Trust Variations and Resolutions for Corporate Trustees
- Keeping the trust deed updated: why and how
- Using resolutions and variations to steward assets and maintain control
- Irrevocable resolutions: uses and pitfalls
- Corporate trustees and testamentary trusts
Presented by Morgan Solomon, Director, Solomon Hollett Lawyers; Leading Wills & Estates Litigation Lawyer, Doyle’s Guide 2018