Commercial Archive

Passing the baton -trusting into the future

This is a paper delivered by Tony to the National Division of the The Tax Institute at the Sheraton Noosa on 19 August 2010. It analyses in some detail with the issues surrounding the fact that assets which are held in family trusts cannot be properly disposed of by will and suggests alternative mechanisms for inter-generational transfer.

Note that since this paper was delivered, the Federal Court decision in Clark’s case was upheld on appeal by the Full Federal Court and the Commissioner of Taxation’s request for leave to appeal to the High Court was rejected.