LATEST ARTICLES
Australia
Stacks Law Firm
This case serves as a warning to parents to know the difference between a gift and a trust.
Cooper Grace Ward
Transcript & link to video discussing what the settlor of a trust is & who should act in that role.
Alvarez & Marsal
In Minerva Financial Group Pty Ltd v Commissioner of Taxation [2024] FCAFC 28[1], the Full Federal Court reversed the Federal Court's decision in finding...
Matthews Folbigg Lawyers
A Discretionary Trust can be a tax-effective structure to build wealth for future generations.
Bermuda
Kennedys Law LLP
Irrespective of whether the protector's role is wide or narrow, it will occasionally be the case that the protector strays beyond the scope of the powers conferred upon him.
Kennedys Law LLP
If the settlor's intention is to give the protector the wide role as espoused in Piedmont, it is important to address this specifically in relation to provisions requiring the protector's consent.
Kennedys Law LLP
It has been said that the narrow view of protector consent provisions has the effect of limiting the role of the protector.[1] To this, Kawaley AJ in X Trusts said:
Kennedys Law LLP
It is worth noting as a starting point that there is no requirement to appoint a protector. It has been suggested that the concept has been more popular in relation to offshore trusts because ...
Kennedys Law LLP
In this mini-series of articles, we explore the role of protectors insofar as the same can be identified in general terms, although it will, of course, always be necessary to have regard to the express terms of the trust instrument ...
Kennedys Law LLP
Ultimately, the protector's role in relation to any given trust will be determined with regard to the express terms of the trust instrument. The powers granted to a protector can be broadly categorised as "positive" powers and "veto" powers.
British Virgin Islands
Harneys
Offshore jurisdictions remain important centres for the establishment and administration of trusts. What should an offshore trustee...
Carey Olsen
This guide to Jersey's private client sector includes commentary on tax, trusts, foundations and private wealth structures used within the jurisdiction, including charitable or philanthropic structures.
Canada
Rotfleisch & Samulovitch P.C.
Canadian income-tax law generally ignores a bare trustee, which means that the bare trustee need not report income generated by the trust property.
Fasken
On March 28, 2024, the Canada Revenue Agency ("CRA") released a statement exempting bare trusts from having to file a T3 Income Tax and Information Return...
Rotfleisch & Samulovitch P.C.
An alter ego trust is an inter-vivos trust, which means it's created during your lifetime, established after 1999.
Dale & Lessmann LLP
On March 28, 2024, the Canada Revenue Agency (CRA) has announced that bare trusts are exempt from having to file a T3 Income Tax and Information Return...
Torkin Manes LLP
Families today are increasingly mobile, often driven by a work-from-anywhere mindset. But when a couple that has ties to more than one country decides to separate, the question of which country's...
Aird & Berlis LLP
On March 28, 2024 (the last business day prior to the April 2nd trust reporting deadline), the Canada Revenue Agency ("CRA") announced that the CRA will not require bare trusts...
Gardiner Roberts LLP
In our previous blog post,[1] we discussed the Canada Revenue Agency's (the "CRA") expanded trust filing and reporting requirements...
WeirFoulds LLP
Bare trusts, unless specifically exempted, are required to file a 2023 T3 Return on or before April 2, 2024 with a completed T3 Schedule 15 to report beneficial ownership information.
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