March Tax Roundtable | Some Problems I've had with Excepted Trust Income

Testamentary trusts and trusts set up after death have been topical for decades. The
interaction with differing State laws means the opportunities can depend on living
arrangements of a client or deceased. From the outset, the complexity of these provisions was
subject to adverse comment. Recent matters briefed to David have highlighted problems
clients are having with those matters including:

• Whether it is possible for a parent of benefited children to be a beneficiary’, too.
• Placing restrictions on beneficiaries’ interests.
• Interaction between State intestacy law and post-mortem trusts under s 102AG(7).
• Attempts to feed the trust, to increase the available income, including recent legislative proposals.
• How to provide for death of child beneficiaries, should it occur, prior to them taking at age 18.
• Attempting to restrict access beyond age 18.

It’s time to re-examine practices, to make sure we are on the right track.

Facilitator: David W Marks QC, CTA, Inns Court Brisbane

Chairperson: Bernie Walrut, CTA, Murray Chambers, Adelaide