Given the long life of trusts, there is often a need to change the terms of the trust as it matures. This session considers the intricacies of trust amendments, and in particular examines the possibility of amending a trust deed to extend the vesting date. Issues discussed include:
Amending trust deeds
What powers of amendment arise under the trust deed? Jenkins v Ellett and Mercanti v Mercanti
What makes an amendment valid?
Which types of amendments will attract stamp duty?
Which types of amendments might give rise to resettlement?
ATO guidance on trust vesting TR 2018/6
Effective strategies to defer trust vesting:
Extending vesting date?
How to make a trust a South Australian trust?
Patrick Ellwood is a lawyer with over a decade of experience assisting high net worth individuals and family business owners.
He is the founder of Clover Law, an Australian law firm specialising in tax structuring, estate planning, superannuation and asset protection.
He is a regular speaker for a range of private and professional bodies and is a published author of a number of legal textbooks.
This webinar is suitable for accountants and lawyers advising in taxation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.
If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]