This video covers:
- When should we change the trustee having regards to asset protection, land tax and other issues?
- How should a trust be operated, and what are the key terms?
- What record keeping and reporting responsibilities does the trustee have?
- Does the trust need a bank account?
- What are the trustee’s responsibilities? How extensive are “fiduciary duties” and when does the prohibition on fettering discretions apply?
- Do beneficiaries automatically have a right to trust records, and what notifications should be provided each year?
- Casual trust arrangements – does a trust need a deed? What happens if there isn’t one?
- Trust checklist: addressing distributions to corporate beneficiaries, TFN reporting and family trust elections, unit trusts and CGT event E4.
Purchase individual materials from this session:
I’ve set up a trust – now what? Day to day considerations
Author(s): Antony BARRIER, Dudley Elliott
Further details about this event: