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  Miscellaneous 2006

Testamentary trusts: not just 'another' trust?

Source: National

Published Date: 23 Nov 2006

 

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Planning for how assets will be passed down through successive generations can take the form of simply leaving an asset to someone, or can involve some 'ruling from the grave' and the inclusion of a testamentary trust in the succession planning process. There are many traps for the unwary in planning the terms of the trust and this paper explores:

  • what peculiarities are involved in this style of trust, for instance when does it start, whether you can vary the terms of the trust and when does it end?
  • what are the income tax advantages and potential planning issues?
  • what drafting issues do you need to be aware of?
  • what are the peculiar and particular income tax and CGT issues for the trustee?
  • what are the current issues with life interests?
Author(s)

Individual Session

Testamentary trusts: not just 'another' trust

Author(s): Arlene Macdonald CTA-Life
Materials from this session:

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