This tag is associated with 3 posts

Is it tax avoidance to distribute to the beneficiary best able to benefit?

QB 15/11: Income tax – Scenarios on tax avoidance – 2015 gives examples where trustees of a discretionary trust take into account the tax position of the beneficiaries when making decisions about distributions of beneficiary income; and finds that this is not tax avoidance.   However, there are some important caveats, and the question to consider when any … Continue reading

Blood from a stone

It’s a tricky road being a beneficiary.  All these rights – but how to enforce them?  What if you are a beneficiary, or you might be – and you want to see the documents that as a beneficiary, you have a right to?  How can you compel the trustees to confirm whether you are a beneficiary?  The … Continue reading

How much discretion is unfettered discretion really?

Another day, another decision. Beneficiaries of new appear to be more litigious beasts than beneficiaries of old. I blame the internet. Or google. Whatever the reason, trustees need to take more care to ensure that their decisions cannot be impugned. This point is highlighted in McNulty v McNulty & Ors a case involving two beneficiaries and … Continue reading