Lost trust deeds
Source: Taxation In Australia Journal Article
Published Date: 1 Dec 2016
The ongoing maintenance of any trust structure is critical for all advisers working in the area. In particular, the starting point for all trust-related matters is ensuring trustees understand the exact terms and rules of a trust. However, when a trust's rules are uncertain due to the loss of the original deed, there is a threshold issue of a likely breach of the trustee's duty to ascertain the terms of the trust. This can have serious implications for the beneficiaries, as well as impact the trustee's future ability to administer the trust from a tax perspective. This article explores a number of pathways and issues that trustees and advisers should consider when a trust deed has been lost or misplaced. This article also provides a summary of the key advantages and disadvantages for each of the main pathways explored.
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Details
- Published By: Matthew Burgess CTA, Hayden Dunnett
- Published On:1 Dec 2016
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