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Protecting discretionary trusts following Richstar, Cummins and Spry paper

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Published on 04 Aug 09 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

This paper considers whether discretionary trusts remain an effective means for protecting assets given the decisions in a number of recent court cases. In particular, it:

  • examines the decisions in Cummins, Richstar, Public Trustee v Smith and Spry
  • discusses the difficulties of an "at risk" individual being the appointor of a discretionary trust
  • reviews the options available to preserve discretionary trusts as asset-protection vehicles
  • considers whether it matters who are the shareholders & directors of the trustee, and the beneficiaries & appointor of the trust.

Author profile

Michael Butler CTA
Michael Butler, CTA, is the Partner in charge of Finlaysons’ Tax & Revenue Group and advises domestic and foreign clients on federal, international and state tax matters. He has a special interest in mining and property taxation, corporate restructurings, international tax issues, and estate and succession planning. Michael is the Visiting Lecturer in Tax at the University of Adelaide Law School, and is a regular contributor to The Tax Institute events. - Current at 22 September 2017
Click here to expand/collapse more articles by Michael BUTLER.

 

This was presented at Trust Busting (Including Bamford) .

Get a 20% discount when you buy all the items from this event.

Individual sessions

Protecting discretionary trusts following Richstar, Cummins and Spry

Author(s):  Michael BUTLER

Materials from this session:

Can’t Clone – what now? Succession planning for trusts

Author(s):  Marc ROMALDI

Materials from this session:

Unscrambling the egg: Current tax and trust issues in family law

Author(s):  Arlene MACDONALD

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Trust distributions: The practical issues

Author(s):  Peter SLEGERS

Materials from this session:

Further details about this event:

 

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