Description

Resettlement of trusts in light of the Trusts Act and other considerations

This webinar, which includes a workbook, provides a considered study of the mechanics of resettlement and practical considerations in light of the Trusts Act 2019.

The webinar will also explore the wider considerations attendant on decisions to transfer assets from a trust settled on unsuitable terms to a trust settled on terms more conducive the desired outcome.

The materials will include a helpful checklist and a precedent deed of resettlement and draft trustee resolutions.

HIGHLIGHTS
This webinar, which will conclude with a question and answer section, will consider resettlement in accordance with the terms of a trust, in light of part 6 of the Trusts Act 2019 and by reference to contemporary case law

Topics covered will include:

• Powers of resettlment in trust deeds
• Power of court to authorise resettlement
• The difference between a waiver pursuant to s 125 of the Trusts Act compared with consent pursuant to s 124 of the Trusts Act
• Mechanics of resettlement
• The line between variation and resettlement
• Unintended tax consequences
• Case law up-date considering cases including:
• Re The Elizabeth Ann Bensaude Family Trust (NO. 2)
• Grand View Private Trust v Wong
• Talijancich, Malone and M & L Trustees Limited v Talijancich & Ors
• Gavin v Gavin, and
• Re Setter

WHY ATTEND
Trusts are routinely resettled. However, the consequences and process of resettlement require careful consideration. This webinar will educate on the mechanics of resettlement with consideration given to the Trusts Act and case law.

ORIGINAL BROADCAST DATE

27 July 2022

LEARNING OUTCOMES

Attendees will learn:

• The mechanics of trust resettlements
• How to draft a deed of resettlement and the relevant trustee resolutions
• When the assistance of the court should be sought to resettle a trust, and
• Tips and traps

SUITED TO

This webinar is targeted at all practitioners with a good knowledge of trust law who are looking to develop a broader appreciation of the mechanics and consequences of variation and resettlement.

PRESENTER

Vicki Ammundsen, Director, Vicki Ammundsen Trust Law Limited.