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Protecting the family assets (trusts and divorce): Part 1

Published on 01 Oct 10 by "THE TAX SPECIALIST" JOURNAL ARTICLE

Discretionary trusts can provide some level of protection from personal creditors but they frequently fail to provide protection in the family courts. This article looks at the impact of the High Court's 2008 decision in Kennon v Spry and the way the family courts deal with wealth in family trusts before and after the decision. It also considers a raft of tax issues arising from Family Court orders.

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Author Photo - Arlene MACDONALD
Arlene MACDONALD

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