Live Webinar: Tweaking the Deed or Triggering Tax: Amending Trusts in the Estate Plan

Whilst an estate plan often involves the implementing of trusts as part of the will, it may be that there is already an existing trust in place that just needs a modification to the deed to increase its usefulness as part of the plan. However, can a tweak of the deed here and there result in unintended tax consequences? This session explores some common deed variations undertaken when estate planning and delves into whether unintended tax consequences can result, including:

• When you can amend the deed, when you can't, and what to do if you hit a roadblock
• Distinguishing between “effective” and “ineffective” deed amendments and the tax consequences for both
• Common reasons a trust deed may require amending as part of an estate plan and the issues to consider, including:
  • how older deeds may not have kept pace with federal, state and territory tax and duty changes
  • adding additional beneficiaries
  • restricting potential capital beneficiaries to “bloodline” descendants
  • modifying the trust to cater for the “blended family”
•  When the estate plan considers:
  • changing the vesting date (TR 2018/6)
  • splitting the trust for future generation autonomy (TD 2019/14)
• When the non-resident beneficiary inclusion in a deed is causing state and territory land tax issues
• Tackling the issue of lost trust deeds
• When the ATO consider a resettlement of a trust has occurred and the tax consequences if it has (TD 2012/21)
• How stamp duty can rear its head as a result of a trust deed amendment