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Residential Care Subsidies and Trusts

Residential care subsidies and trusts are a topical issue that explores social tolerances and personal expectations.  As the numbers of trusts increase, perhaps not surprisingly the policy that govern residential care subsidies is becoming more robust. Vicki Ammundsen is presenting a comprehensive webinar on 21 May 2014 at 10.30am. Topics covered will include: Numbers of applicants, … Continue reading

Can a settlor have de facto control of a trust?

Trusts involve a lot of just that, trust.  Once settled, the settlor has limited, if any, real control.  This is difficult for many settlors to deal with due to misunderstandings and misinformation regarding how trusts work. By way of illustration – the earliest trusts, called a use, can be dated back to medieval England.  At … Continue reading

I might change my mind

A trust is settled. The settlors are trustees together with an independent trustee.  The settlors’ marriage breaks down and they are no longer able to exercise their trustee powers.  Everyone is busy attempting to remove and replace trustees to wrest control of the trust.  Inevitably the matter comes before the court. What is the court to … Continue reading

I changed my mind

Sometimes settlors of trusts change their mind.  Generally it is too late at the point this happens, the deed is literally done.  Assets have been transferred, debts forgiven and new relationships and obligations have come into existence. However, what is the position where property is sold to a trust with a debt back, there is an … Continue reading

Time to let go

Settling a trust together seems to be the obvious next step for so many couples.  Once upon a time it was monogrammed towels.  Now it’s seeing your name on a trust deed.  But when the going gets tough the reality is, dividing linen is much easier than dealing with a trust.  One of the reasons … Continue reading

No sham decision upheld

The Supreme Court has dismissed an appeal against the decision of the Court of Appeal (upholding the High Court decision) in Glover v Glover where the court found that a ruse was not a sham.  Briefly a bare trust arrangement entered into to avoid a tax impost was found to have achieved its object and accordingly … Continue reading