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Recorded Webinars

Recorded Webinar: The Role of Attorneys in Family Trusts: Keeping On the Straight and Narrow

Over the last fifty years, discretionary trusts have been a popular long-term structure through which many wealthy families chose to manage their assets for the future benefit of their families. But whether or not these benefits can be realised often depends on the trustee and whe
PRESENTED BY Edward Skilton Principal Lawyer - Sladen Legal , Melbourne

Date/Time

About the Webinar

Over the last fifty years, discretionary trusts have been a popular long-term structure through which many wealthy families chose to manage their assets for the future benefit of their families. But whether or not these benefits can be realised often depends on the trustee and whether they understand, and comply, with the obligations and responsibilities of that role. With more and more trustees reaching an age where capacity is an issue, attorneys are increasingly needing to step into the role of trustee in a family trust. Unfortunately, this is often to the detriment of the trust and beneficiaries - particularly if the said attorney goes rogue. To some extent, many of these issues can be avoided with proper and robust family planning. To help estate planners consider the intersection between family trusts and powers of attorney in more detail, this session examine:

  • The circumstances in which an attorney can step in to a family trust, what they can and can’t do and the potential issues which can arise for the trust when an attorney is involved
  • An update on the key trust principles regarding the obligations owed by a trustee, and recourse when they are breached, including when their costs will be borne personally in light of recent cases including Cardaci
  • Hypothetical examples which workshop the potential issues the estate plan can face with poor choices of attorney, including how this may play out when the trustee, guardian or appointor loses incapacity
  • Practical tips for managing the difficult conversations to have with clients and their families

Presented By

Edward Skilton
Principal Lawyer, Sladen Legal Melbourne, Vic

Edward Skilton is a Principal Lawyer in the business law team at Sladen Legal in Melbourne, with a particular focus on equity, trusts and succession.

The focus of his dispute practice is on protecting at risk beneficiaries and others negatively affected by the decisions of the incumbent controllers of estates and trusts. He represents plaintiffs and defendants in the County Court and Supreme Court in matters relating to trust advice, replacement of executors/trustees, validity of documents and transactions (including SMSF and trust distributions) and claims for further provision.

On the planning side, Edward prepares complex estate plans and is particularly interested in assisting the owners of private business groups transfer the business to the next generation, as distinct from a sale to third parties.

Where there are concerns about a person’s ability to make decisions about their own finances (including business and investment assets) and care, Edward advises and represents clients in relation to administration and guardianship applications in the Victorian Civil and Administrative Tribunal including applications for advice regarding proposed transactions, conflict transactions and compensation.

Who Should Attend?

This webinar is suitable for lawyers and accountants throughout Australia who advise in estate planning matters. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD hour. Lawyers can claim up to 1 CPD unit/point – substantive law. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

WA lawyers – Please note that TEN is unable to verify your completion of recorded webinars to the Legal Practice Board of WA. TEN is an accredited provider.

While TEN takes all reasonable care to include accurate and up-to-date information regarding CPD category classifications and compliance obligations, information regarding CPD point allocation are provided as a guide only. Allocation of CPD points is subject to the CPD requirements of your jurisdiction, personal circumstances and professional requirements. You are solely responsible for determining whether a particular product is appropriate for your CPD requirements.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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