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Succession planning to avoid disputes between trustees & beneficiaries paper

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Published on 02 Mar 16 by NATIONAL DIVISION, THE TAX INSTITUTE

This paper covers:

  • removal of a trustee by the court
  • trustee duties
  • returning to the analysis and outcome in Benson
  • could the parents in Benson have avoided removal?
  • what were their succession planning options before the relationship broke down and a dispute arose?
  • was there a failure to follow the notice requirements?
  • loan/beneficiary accounts considerations.

Author profile

Sam McCullough ATI
Sam is a lawyer in private practice and a Director of Worrall Lawyers, Hobart. He is the co-author of Statutory Will Applications: A Practical Guide, and a contributing author to Halsbury’s Laws of Australia. In 2011, Sam presented the session ´The Practical Control and Taxation of Superannuation Death Benefits’ at the National Convention of The Tax Institute in Brisbane, and in 2016 presented ´Succession Planning to Avoid Disputes Between Trustees and Beneficiaries’ at the National Convention in Melbourne. Sam is the Tasmanian representative on the National Elder Law and Succession Committee of the Law Council of Australia and a full member of the Society of Trust and Estate Practitioners (STEP). - Current at 28 July 2016
Click here to expand/collapse more articles by Sam McCullough.

 

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