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  Trusts 2021

I've set up a trust - now what? Day to day considerations

Source: National

Published Date: 8 Sep 2021

 

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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.

Individual Session

I've set up a trust - now what? Day to day considerations

Author(s): Dudley Elliott CTA , Antony Barrier FTI
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