Discretionary Trusts
- Can a will maker regulate the control of a discretionary trust under their will?
- How do the new NSW foreign beneficiary rules affect discretionary trusts and testamentary trusts?
- Is a variation required for the change of name of a person named in a trust deed (i.e. due to marriage)?
- Can the trustee of a discretionary trust be the same person as a principal (or appointor)?
- Does the definition of ‘distributable income’ in View Legal's discretionary trust deed distinguish between ‘trust income’ and ‘taxable income’?
- Do View Legal discretionary trust deeds ensure that if there are 2 trustees appointed initially, a retiring trustee is discharged?
- Can View Legal assist with changing the beneficiaries of a trust?
- Does your family trust deed satisfy the rules to ensure it is not a ‘foreign trust’ trust for the purposes of land tax or foreign acquirer duty surcharges?
- Do trust deeds need to be updated for the foreign beneficiary rules?
- Why does your trust deed only include married spouses in the definition of ‘spouse’ (i.e. excluding de facto spouses)?
- What should we do if a new trust has been established with errors in the trust documents (for example, a beneficiary listed as the settlor)?
- When should a discretionary trust deed be updated?
- Does the View Legal trust deed address state based legislation issues?
- Should a trust have an operating loss (on revenue account), and a gross capital gain, can the two to be netted for the purposes of a tax distribution (not trust distribution)?
- What happens if the trust deed of a trust of any description (e.g. discretionary trust or unit trust) has been lost?
- How is income defined under the View Legal discretionary trust deed?
- Do View Legal trusts allow never ending, or ‘perpetual trusts’?
- What are the consequences of a failure to deposit the settlement sum on the establishment of a discretionary trust?
- Can I change the settlor of a trust?
- How do ‘automatic disqualification’ clauses work and are they effective from a family law perspective?
- Do trusts need to have principals or appointors?
- How do the ‘event of disqualification’ provisions work under the discretionary trust deed?
- Does the View Legal discretionary trust automatically insert specific clauses in relation to Land Tax related strategies?
- Do courts allow for soft copies of signed trust deeds and other source documents to be admissible or are the original (physical) documents require?
- Does changing the name of a trust cause a resettlement for tax or stamp duty purposes?
- Are there any restrictions on what a trust can be named?
- Why is the financier for the trust requesting the clause in the View Legal discretionary trust deed that ensures the automatic disqualification of a trustee on bankruptcy be removed?
- Is an unwitnessed trust deed still valid?
- Why does the View Legal discretionary trust deed include powers to do things that may not be tax effective?
- Does View Legal provide tailored distribution resolutions or provide advice in relation to distribution resolutions?