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So You Think You Know Trusts?

Published on 05 Jun 2008 | Took place at Kooyong Tennis Club, Kooyong, VIC

Q: What do the following terms have in common: Express, oral, discretionary, fixed, hybrid, unit, secret, implied, resulting, testamentary, bare, superannuation, precatory, purpose, cy pres, charitable, bona vacantia, will and child maintenance?

A: They are all "trusts". Most practitioners think they know trusts, but under the law a trust can have many variations, and different legal rights and obligations flow depending on the nature of the trust in question. There is no single thing called a "trust", and yet the tax law generally treats every trust as if it is the same.

Aimed at every legal and accounting practitioner, and every financial advisor who may have clients with a "trust", this event covered trusts.

Individual sessions

So you think you know trusts?

Author(s):  Nabil (Bill) F. OROW This paper discusses, in plain terms, the situations in which different types of trusts arise, and how to identify them. It also comments generally on the different taxation attributes that each trust possesses.

Materials from this session: