The use of corporate appointors in 2nd generation family trusts

Background The appointor (sometimes called principal) of a family trust has the power to appoint and dismiss the trustee. The appointor is the ultimate controller of the family trust. The appointor rarely has substantial other powers within a family trust and as such is only occasionally involved in trust management.  This is generally [...]

2021-10-11T16:30:21+10:00October 11th, 2021|

Bernard & Bernard – the Family Court examines the protection provided by testamentary trusts

Asset protection generally All asset protection is a compromise between protecting assets and retaining control and enjoyment of those assets. Asset protection spectrum Complete control and enjoyment = no asset protection Example: you own the asset legally and beneficially, e.g. family home No control or enjoyment = excellent asset protection Example: asset owned [...]

2020-04-06T10:38:19+10:00April 6th, 2020|

When will the Court assist the family trust?

Application of Country Road Services Pty Ltd (in the matter of the Browne Family Trust) [2019] NSW SC779 The Trustee Act 1925 (NSW), similar to most Trust Acts in Australia, allows the trustee of a family trust to approach the Court for an order that the trustee has the necessary power to undertake [...]

2020-03-11T09:42:48+10:00March 10th, 2020|
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