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Budget 2012 changes to residential care subsidy entitlements

Many people undertake asset and estate planning with the hope that the arrangements entered into will protect assets so that they will not be counted for residential care subsidy purposes.  The success or not of these measures depends on timing and require careful understanding and appreciation of how the relevant thresholds are applied.  See gifts … Continue reading

Initial Trust Settlements

The devil, it is said, is in the detail. While there is no agreement regarding who this statement should be attributed to, this makes it no less correct. It also makes it no less relevant in the context of trusts, where so often what matters, is not what was intended (certainty of intention aside …) … Continue reading

Webinar on beneficiaries and beneficiary rights

Vicki Ammundsen is presenting a webinar on the often over-looked trust subject of beneficiaries and beneficiary rights. This webinar will utilise a case study to highlight beneficiaries’ rights and how these should be dealt with in practice. Topics covered include: > A discussion of the rights different beneficiaries have > How to respond to information … Continue reading

Errors in deeds of trust

Mistakes happen in all walks of life.  Some are easy to remedy, others, not so much.  What happens when a mistake occurs in a deed of trust? Some mistakes can be corrected through the trustee’s power to vary; if the deed provides for that.  Where the trustees do not have a power of variation, a … Continue reading

Post facto reasoning

Rob Stock recently wrote (Sunday Star times, April 29, D8) about how rising fees were eroding the great legacy of Frank Sydenham and questioning whether, with hindsight Mr Sydenham would have written his will differently.  Mr Sydenham’s will provided for the establishment of a trust estate, the income of which was to be used to … Continue reading

Corporate trustees – whine whine whine

The recent decision in SW Trust Limited v Grandad’s Limited highlights, yet again, the number of corporate trustees operated by professionals that accept multiple trustee appointments but that do not appear to wish to be in the trustee business. In the judgment it is noted that: “First, the applicant is a corporate trustee. It was … Continue reading