Description
Note: this webinar is the first of a two-part series. You can save 10% by purchasing both webinars together.
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Gain practical insights into trust wind-ups, from vesting and distributions through to tax, documentation, and record-keeping obligations
A trust can be wound up:
- following final vesting
- as an exercise of trustee discretion
- pursuant to powers of advancement
- pursuant to the rule in Saunders v Vautier, or
- pursuant to part 6 of the Trusts Act 2019
Whatever the basis for the wind up there are practical considerations to address. This webinar will consider when and how trusts can be wound up with specific focus on the trustee and beneficiary perspectives – and where these can differ.
HIGHLIGHTS
This webinar, which will refer to contemporary case law and conclude with a question and answer section, will consider the different ways trusts can be wound up from the perspective of the trustee and the beneficiary. The materials provided include a workbook containing useful precedent wind up documents.
Topics covered include:
- trustee discretion before final vesting
- what it means to be a final beneficiary
- when and whether to make appointments prior to final vesting
- practical ramifications of vesting
- liability considerations
- the mechanics of winding up a trust
- tax considerations
- accounting requirements
- documentation, and
- post wind up record keeping.
Part 2 of this webinar will consider winding up and resettlement with the assistance of the court with particular focus on current themes in wind up and resettlement cases.
LEARNING OUTCOMES
Trusts are regularly wound up. However, in the absence of formal guidelines, the steps required (regardless of the reason for the wind up) are not always clear. This webinar will highlight matters to take into consideration from the perspective of the trustee and the beneficiary.
SUITED TO
This webinar is targeted at all practitioners at all levels but will be of particular interest to practitioners who act as or advise trustees.
PRESENTER
Vicki Ammundsen, Director, Vicki Ammundsen Trust Law
Vicki is a director at Vicki Ammundsen Trust Law. Vicki's approach to trust law is practical but also grounded in a good understanding of trust law principles, related legislation, and case law. As the author of a number of texts including Taxation of Trusts, the Trustee's Handbook and Trustee Liability, Vicki is well placed to provide advice on all areas of trust law.
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