Published on 10 Oct 13
by VICTORIAN DIVISION, THE TAX INSTITUTE
Trusts are supposed to be a protective barrier for family assets. This barrier is under threat from:
- the family law decision in Kennon v Spry (2008)
- the company law decision in Richstar Enterprises Pty Ltd v Carey (2006)
- credit loan accounts and unpaid trust entitlements
- the creation of beneficial interests in the course of estate planning
- bad practices in the administration of trusts.
This paper examines and evaluates each of these threats in practical contexts,including the scope they create for a family trust of another family member to be dragged into matrimonial property disputes, for a trust to be dragged into a beneficiary’s tax dispute and for inheritance claims to turn into trust disputes.
Graeme Halperin, CTA, of Halperin and Co, is a Barrister and Solicitor specialising in taxation, trust, estate and commercial law with extensive experience in tax, trust, estate and commercial litigation and dispute resolution. Graeme has been a regular speaker for The Tax Institute for many years. He is a former Chairman of the Victorian Professional Development Committee, Melbourne Breakfast Club and State Convention Committee, and served two terms on the Victorian State Council. He has also been a member of the SME, State Revenue and Superannuation subcommittees. Graeme also participated in NTLG Trust subgroup discussions on the draft Bamford decision impact.
- Current at
17 December 2013