Trusts 2018 Series


This webinar series aims to provide up to date trust law information together with practical insight to assist members with answering trust law questions or issues presented in their day to day activities.

Content Description

Members are frequently asked to provide trust and planning advice to clients. Consequently, it is important for members to actively confirm their current level of understanding of trust law and to keep up to date with current trust issues and developments. In this webinar series, Vicki Ammundsen of Vicki Ammundsen Trust Law Limited addresses the following trust law topics:

Session Information:


Session 1:

Do I want to be / remain a trustee?

Trustee incapacity / Trustee Liability / What are the risks for Trust Advisors?

Trustees act personally which means that each trustee appointment needs to be assessed and the relative risks determined as the assets of the trust and needs/wishes of beneficiaries change. It is also important to regularly review each trustees fitness to act.


Session 2:

Rights to trust information – the what, the why, and the how much (Beneficiary).

Beneficiaries right to information is a topical matter with changing legal text as to who is entitled to information and what information should be provided on a case by case basis.


Session 3:

Trust Bill (or Act if that should happen) –what does it mean? (Dealing with the uncertainty).

When advising clients it is currently necessary to advise in relation to the trustee act, current trust law and the what the position might be if the trust bill is passed in current form. Consideration should also be given to the 5 year review of relationship property legislation and what impact that might have on current and future trusts.


Session 4:

How to wind up a trust – the theory and the practical

Trust are commonly wound up. However, as each trust has its own terms and circumstances a single approach to winding up a trust can be inappropriate. Accordingly, a principled understanding is required so that the relevant matters can be considered as necessary.


Learning Outcomes

Upon satisfactory completion of this webinar series you will be able to:


    Session 1:

  • Identify factors to take into consideration when determining whether a trustee appointment should be accepted / retained
  • Recognise the risks associated with being a trustee and how these arise
  • Appreciate and assess advisor risk by reference to the Trusts Bill and recent case law

  • Session 2:

  • Identify the correct legal test
  • Identify the differences between the current legal test and the provisions proposed in the Trusts Bill
  • Explain the outcome of the most recent cases regarding beneficiaries seeking the assistance of the court to access trust information and the reasons for the decisions

  • Session 3:

  • Identify the provisions of the Trusts Bill
  • Relate provisions of the Trusts Bill to practical situations
  • Advise clients on the content of the Trusts Bill and what this will mean for existing trusts
  • Identify tools to address trust uncertainty

  • Session 4:

  • Identify the different means by which a trust is wound up
  • Describe the mechanics of draft deeds to wind up a trust
  • Summarise tax and other considerations

Benefit

Trust law is rapidly changing – these webinars will enable to you confirm your current level of understanding of trust law and to ensure currency of your knowledge going forward. You will also be provided with the opportunity to pose trust law questions to the presenters.

Vicki Ammundsen is a director at Vicki Ammundsen Trust Law Limited and is a trust practitioner whose approach to trust law is practical, but founded on a good understanding of tax law and trust law principles.

Vicki is the author of texts including Taxation of Trusts, The Trustees’ Handbook, Trustee Liability: What Every Trustee Needs to Know.

Through carefully considered trustee appointments, Vicki also has an appreciation of the realities of being a trustee.


EVENT DETAILS


Topic: Business Mindset, Ethics & Integrity

Sub-Topic: Governance, Solve Problems

Format: Recorded Webinar

Proficiency Level: Intermediate

CPD: 6 hours