2 July 2020 Amelia Rees

#49 – When Trust Distributions Go Bad

In this podcast, the View Legal team explore the following topic ‘When Trust Distributions Go Bad’ which was held on 11 June 2020.

This podcast is a take out of that session. For access to more webinars and resources join one (or all) of the View Communities.

During this extract of the webinar, you will learn about Many specialist advisers have business plans that consist of one word – ‘trusts’.

The range of issues that can potentially undermine the intentions of a trustee when attempting to make trust distributions is almost limitless.

The time to be planning appropriate crafting distributions is before an impending 30 June.  This presentation will methodically address a number of common scenarios that see purported distributions fail, including:

  • understanding the way in which beneficiaries are defined;
  • clauses excluding the trustee as a beneficiary;
  • implications of non-resident beneficiary laws;
  • the remoteness of vesting rules, including with trust to trust distributions; and
  • adviser liability due to failed distributions.

Reminder to View Community members – join us in the FaceBook group for a deeper conversation about this topic and how you can leverage your learnings for your customers.

Not a member? Learn about View’s online mastermind communities below to see which one (or three) suits the needs of you and your business.

Techniview - For advisers working in holistic estate planning (including trusts, asset protection, superannuation, tax and business succession)

Adviewser - For advisers wanting to facilitate legal solutions for their clients in holistic Estate Planning

Viewruption - For professional service providers wanting to iterate their business model (including abandoning timesheets)

Some of the resources that View Legal has on offer that may be of assistance include:

  1. View apps
  2. Weekly View blog
  3. Published View books

 

Related articles

 

Testamentary trusts overview

20 Point Checklist – Trust Review

Podcasts

#33 – ASSET PROTECTION MASTER CLASS 

#29 – TRUST HORROR STORIES

Listen to View’s previous episode here.

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