Trusts 2021

Discretionary trusts - challenging the trustee's discretion

Source: The Tax Specialist Journal Article

Published Date: 1 Aug 2021


Disputes about family trusts are on the rise. Attacking the exercise of a discretion has always required subtlety, sometimes directed at telling the client they have no evidence to do so. Through a series of case studies, based around turmoil in the fictitious Wolfram family, we see how to begin the work, by seeking information. Then we see how important administrative discretions can be, such as investment decisions. We move on to look at decisions to appoint income and capital, and remove a beneficiary or a trustee. Finally, we consider possible tax consequences flowing from a successful review of (or revision to) a decision.

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Trusts 2021

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