In possibly the most significant trust tax case since Bamford (2010), the High Court has held that the attempt to undo, by means of an “after the event” disclaimer, the tax consequences of a default distribution clause of a discretionary trust was ineffective for taxation purposes.
legal advice
Limited capacity clients and their estate plans
Advisers can face many challenges when working with clients who they believe may have limited capacity.
Dealing with bad legal documents
It is important that before proposed transactions are entered into, appropriate legal and financial advice is sought. But if it’s not, then comes the job of undoing that which should not have been done. Legal documents are more than just pieces of paper. They affect legal rights and have legal effect when they’re signed. It is not possible at law […]
Townsend Lawyers is a leading independent law firm, specialising in commercial and business law, corporate advisory, tax, estate planning, superannuation, insurance, trusts and SMSFs.