Sub Trusts – Part 2

Sub Trusts – Part 2

Sub Trusts Part 2 1. I have had some interesting discussions regarding the article Why I Hate Your Sub-Trust, and wanted to set out and respond to some comments that have been made. In particular I would like to acknowledge the thoughts of Grahame Young of Francis...
Failed Asset Protection

Failed Asset Protection

Failed asset protection Notwithstanding that a promissory note is a relatively simple instrument, it may be drawn incorrectly. Examples of this are Re Permewan26 and Turner v O’Bryan-Turner, 27 both of which involved a “gift and loan back” scheme. A further analysis...

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Why I Hate Your Sub-Trust

There is a certain type of sub-trust over income that many trust deeds purport to create, and which the Federal Commissioner purports to allow. This is where a trust is established over the income distributed from another trust. This is problematic for the reasons...

Dangers Of Law Clerks With Checklists

Dangers Of Law Clerks With Checklists The discussion surrounding the dangers of automation typically centre on novel and futuristic application of Artificial Intelligence. Even if we are not worried about Skynet terminating humans, we worry about application of data,...
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