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  2023 Trusts

Tips and traps for advising your client when setting up a trust

Published Date: 19 Oct 2023

 

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It is important that professional advisers dealing with trusts understand the terms of the deed. When a client establishes a trust, it is vital that advisers work together to ensure that the trust deed will be fit for purpose for the trustee and the potential activities to be conducted by the trust. This session provides tips and traps for lawyers and accountants when considering what the terms of a trust should be when setting up a trust. The focus of the session was to discuss:

  • The importance of understanding the client’s intentions and customising the deed to meet the client’s needs
  • Explore potential pitfalls and the importance of asking the right questions of the client before setting up a trust
  • Consider the potential consequences of setting up a trust that is not fit for purpose and able to be adapted for changing circumstances; and
  • Strategies for changing trustees and addressing appointer succession.

Individual Session

Author(s): Lisa To
Materials from this session:

Author(s)

Details

  • Published By: Lisa To
  • Published On:19 Oct 2023
  • Took place at:Hotel Grand Chancellor Launceston

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