Trusts Act - effectively advising your clients 2024 - On Demand

Package includes:

On Demand Module  l  Electronic booklet  l  PowerPoint Presentation

Package Fee (incl GST)

• $185 - Law Society members and Associate members
• $240 - Non-members

Note: Access to the online files is via your "My CPD" page. If you would like to purchase multiple packages, please contact us here.

On Demand Module

The much-anticipated Trusts Act 2019 (the Act) came into force on 31 January 2021. This module will examine some of the key provisions of the Act and what you need to know to enable you to provide robust advice to your clients on trust-related matters.

This module will address the following topics:

• Disclosure of information to beneficiaries
• Trustees’ duties
• Duties of advisers
• Maximum duration of trusts
• Powers of variation and resettlement
• Powers of investment
• Powers of delegation
• Powers of appointment and removal of trustees and vesting.

Learning objectives

By completing this module you will gain:

• Understand the key provisions of the Act.
• Understand how to modify your practice in light of the Act.
• Understand how your clients may take advantage of changes introduced by the Act.
• Be able to provide robust advice to your clients on trust matters.

Electronic paper 

Authors: Fiona King, Pravir Tesiram
Published: 14 November 2024
Pages: 49

Introduction

The Trusts Act 2019 (the Act) has been in force for almost four years. While the Act was not intended to modify the law to any great extent, it did introduce some noteworthy changes and it has prompted all of us to think about how we need to modify our practice to comply with the Act, take advantage of beneficial changes the Act has made, or opt out of aspects of the Act to provide greater flexibility for clients.

This paper will examine the key provisions of the Act listed below and discuss what you need to be aware of and changes in practice that are required to allow you to robustly advise your clients on trust-related matters.

• Disclosure of information to beneficiaries.
• Trustees’ duties.
• Duties of advisors.
• Maximum duration of trusts.
• Powers of variation and resettlement.
• Powers of investment.
• Powers of delegation.
• Powers of appointment and removal of trustees and vesting.

This paper will focus on the above aspects in the context of discretionary family trusts.

PowerPoint Presentation

These are the slides included in the presentation.