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Published on 04 Aug 09
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
The division and divestment of control of family discretionary trusts has suffered somewhat with legislative amendments announced to remove the "trust cloning" exemption. In light of these changes, this presentation outlines alternative options for advisers and their clients in implementing succession planning strategies for family discretionary trusts including:
trust splitting as a continuing and useful alternative
dividing control using the matriarch or patriarch's will
other methods of 'dividing' trust assets
in specie distributions
weighing practical and commercial requirements against tax outcomes.
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