Seminar: Vesting of Trusts

Event Date: 
03 July 2013
City West Receptions

Discretionary trusts, and to a lesser extent unit trusts, have become ubiquitous vehicles for building and maintaining wealth within families and privately held groups. Unlike companies, which are perpetual, trusts have a limited life. When a trust comes to the end of its life, its vesting date, if there are not robust plans in place as to how the vesting should occur, controversy, and in some cases, litigation, amongst family members can result. As a result, some forward planning should be given to the vesting of trusts well before vesting date. This seminar will cover:

- The operation of trust deeds on vesting, determining where proceeds on vesting should be distributed (including consideration of distributions in-specie and options when charitable groups are named as beneficiaries) and other key legal aspects;
- Options for extending the life of a trust, changing the terms of the deed and managing resettlement risks;
- Key income tax and stamp duty issues arising on vesting

Leigh Dyson, Barringtons
John W Fickling, CTA, Western Australian Bar
Robert A Niemann, Western Australian Bar

Session 1: Legal aspects
Session 2: Stamp duty and income tax aspects
Session 3: Case study – practical and accounting aspects

The Tax Institute
08 9322 2004
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