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Succession planning to avoid disputes between trustees and beneficiaries video


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Member Price: $99.00
Non Member Price: $121.00

Publication date: 02 Mar 16 | Source: NATIONAL DIVISION, THE TAX INSTITUTE

Abstract:
This video is a filmed session from the 31st National Convention, PowerPoint slides are incorporated with the presentation.

The relationship between trustee and beneficiary can give rise to risk of conflict in certain situations. This is particularly the case when the control of family wealth held in a Trust is passed between generations, as illustrated by the recent Rinehart litigation.

The session considered:

  • effectively transferring Trustee and other controlling roles between generations
  • strategies to “rule from the grave” by controlling future trustee decisions
  • consideration when there are significant beneficiary loan accounts/unpaid present entitlements
  • when the Court will review a decision of a trustee, including decision to amend the terms of a trust
  • when the court will remove a trustee
  • succession planning options for family business structures that include a trust or trusts.

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Succession planning to avoid disputes between trustees & beneficiaries
Author(s):  Sam McCullough

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.
This was presented at 31st National Convention .

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