-
Subscribe
Subscribed
Already have a WordPress.com account? Log in now.
I write a lot about trustee liability. The reason for that is simple – there is lots to write about. Being a trustee is a risky business, and sadly many trustees are not sufficiently aware of the risks of trusteeship. For trustees or advisers who want to be better informed I have written a book … Continue reading
The recent Australian case Anderson v FC of T highlights the risks of trusteeship and reinforces the fact that liability already incurred as a trustee cannot be voided through the trustee’s retirement. Although the facts of the case relate in part to specific provisions of the Australian GST Act, the message to be taken from the case reinforces the importance … Continue reading
SWL Trustee Company Limited (SWL) is a trustee that acts together with two other trustees as trustees of a family trust. As is commonly the case, two of the trustees (the instructing trustees) are also settlors of the trust. The trust owns a number of properties. All is fine, until it is not. The trust owns a number of properties. … Continue reading
While recent headlines might lead one to belive that trusts are falling down in the face of relationship failures, closer inspection would suggest that in fact this is not commonly the case. There appears to be a significant distinction between trusts where both spouses or partners are settlor/trustees and cases where only one spouse or partner … Continue reading
Dealing with trust owned assets following the demise of the settlors’ relationship can be tricky. Many of the traps and pitfalls that can befall trustees who have diffficulties differentiating between the rights as beneficiaries and the obligations they owe as trustees are highlighted in the cases that comprise the back story to Irvine and Taylor … Continue reading
When assets are transferred to a trust by a settlor the transfer is generally by way of gift or sale. Where assets are sold there is a gift back that can be forgiven immediately, progressively or at some future date, if at all. Prior to the abolition of gift duty gifting programs were common and … Continue reading
Matters of Trust 