This is an update regarding the announcement in the 2018 Federal Budget that integrity measures may be introduced in respect of Testamentary Trusts.
A Testamentary Trust is a Trust established under a Will which does not commence until completion of administration of an estate.
Testamentary Trusts are commonly used when providing personal estate and succession planning advice to clients as they can provide asset protection and income tax benefits.
While we await the release of draft legislation from Treasury, this video highlights some of the key practical issues that should be addressed in the draft legislation.
If you want to know more, please contact Emily Anderson.