Trusts and succession planning paper

Published on 21 Oct 06 by TASMANIAN DIVISION, THE TAX INSTITUTE

As clients continue to adopt more sophisticated structures for business and investment, greater planning is required in order to ensure that a client’s estate and succession planning objectives are met. This paper considers some of the opportunities and traps that arise with trust structures in a succession planning context including:

• are people whom we think are beneficiaries really beneficiaries?
• the role of the appointor/guardian/supervisor in passing control to the next generation
• testamentary trusts - some key issues
• ownership of main residence and tax implications of occupation rights
• trust cloning or splitting - what are they and what are the traps?

Author profile

Daniel Smedley CTA

Daniel is a Principal of Sladen Legal. He is a Law Institute of Victoria Accredited Specialist in Tax Law and holds a Master of Taxation. Daniel is the principal author of Trusts Structures Guide published by The Tax Institute and a regular presenter at industry conferences and workshops. Daniel primarily advises businesses and high net worth individuals in relation to business and investment structuring, trusts, succession planning and taxation law. - Current at 10 July 2017

More by Daniel SMEDLEY

• Trusts Splitting - Supplementary paper - 13-June-2017
• Building blocks of a trust paper - 13-June-2017
• Emerging issues for private businesses conducted via trusts paper - 25-May-2017
• A matter of trusts: Deemed to be a “fixed trust” – draft guidelines - 01-December-2016
• Solving issues today, but planning for tomorrow paper - 27-May-2016
• Business succession - Involuntary events paper - 08-October-2015
• Trusts - Current risk areas paper - 18-March-2015
• Practical trust management issues paper - 27-May-2014
• Beware of trust conundrums! paper - 20-February-2014
• Trusts roadshow workbook paper - 29-October-2013
• 2012 Trusts roadshow workshop paper - 16-August-2012
• A matter of trusts: Continuity of the trust estate: FC of T v Clark - 01-March-2011
• 2010 trusts roadshow workbook paper - 23-September-2010
• Modern day trust structures paper - 17-October-2008
• Trusts roadshow: Case studies and workbook paper - 23-May-2008
• A matter of trusts: Increasing flexibility for family trusts? - 01-August-2007
• 2007 Trusts National Roadshow: Workbook and Case Studies - 25-May-2007
• Changes to the CGT small business concessions paper - 19-May-2007
• A matter of trusts : Trusts holding underlying interests in entities - 01-February-2007
• CGT small business concessions - selected issues paper - 06-October-2006
• Trusts Workshop 2006 - 08-June-2006
• Establishing new trusts as part of succession planning paper - 25-August-2005
• A Matter of Trusts: Family trust elections - remain vigilant - 01-August-2005
• A matter of trusts: Asset protection and trusts - 01-April-2005
• A Matter of Trusts: In-specie distributions and GST - 01-February-2005
• Comparison of trusts seminar paper - 30-November-2004
• CGT exit strategies for SMEs convention paper - 11-September-2004
• A Matter of Trusts - 01-August-2004
• My Client the Property Investor/Developer - Part II convention paper - 02-April-2004

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