The Trusts Act 2019 – not long to go - 26 August 2020 (On Demand)

Description

The Trusts Act repeals the Trustee Act and the Perpetuities Act and is intended to:

  • make trust law more accessible, and
  • clarify and simplify core trust principles and trustee’s essential obligations

This webinar will consider the practical aspects of the Trusts Act including:

  • identification of beneficiaries
  • disclosure obligations
  • how to apply the procedure in s 53 (procedure for deciding whether the presumption regarding notifying basic trust information and providing information on request applies by reference to factors (a) to (m))
  • what amendments need to be made to trust precedents
  • how to communicate with clients regarding the Trusts Act
  • what needs to be done now, and what can wait, and
  • myths and misunderstandings regarding the Trusts Act

This webinar will also cover the following aspects of the Trusts Act:

  • when a trust is created
  • requirement to keep core documents and how these obligations will be met
  • the new statutory definition of express trust
  • the new maximum duration of 125 years
  • the process for the appointment and removal of trustees and vesting of trust assets
  • alternative dispute resolution
  • the new statutory form of the rule in Saunders v Vautier
  • mandatory and default trustee duties
  • who can be a trustee (and who can’t be a trustee)
  • adviser obligations and how these should be documented
  • the role of special trust advisor

 

LEARNING OUTCOMES

This webinar will advise and inform attendees regarding the scope of changes introduced by the Trusts Act, the range of trusts affected beyond discretionary family trusts and what practitioners need to do in the next six months to:

• ensure trusts are fit for purpose
• up-date trust precedents, and
• advise clients.

DATE OF ORIGINAL BROADCAST

26 August 2020

SUITED TO

Lawyers, accountants, trustees and financial advisers

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law

 

 

1.25 CPD Hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $195.00 excl. GST

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