• CPD Points: 1 [SL]
  • Price: $89.00
  • Area: Elder and Succession Law; Estate Planning; Succession Planning; Trusts; Wills
  • Delivered: August 2024
Digital Content
  • Recording
  • PDF of Slides and Paper

To purchase login below

Description

Mr Andrew Verspaandonk, Barrister, Douglas Menzies Chambers in Victoria, presents this session into the 2024 Estate and Succession Law Conference. The recent decision of Owies has been said by some to have thrown the future of discretionary family trusts into doubt by challenging the idea that trustees of discretionary family trusts have absolute discretion to distribute income for the benefit of one or more of the beneficiaries of the trust in preference to others. Lawyers must grapple with the potential ramifications of this decision and what it means for their clients.

To help understand these issues and their potential ramifications in more depth, this session will examine:

  • What does ‘real and genuine consideration’ mean when trustees are exercising their discretion? How far does this extend?
  • The facts in Owies, what led to the decision and its outcome.
  • What does Owies mean for the future of discretionary family trusts in Australia.
  • When will the court remove a trustee?
  • Best practice tips in relation to what advice should be provided to clients following this decision when acting for both trustees and beneficiaries.
  • Should lawyers be advising their clients to evidence the rationale behind trust distributions in the event of a future challenge?
  • CPD Points: 1 [SL]
  • Price: $89.00
  • Area: Elder and Succession Law; Estate Planning; Succession Planning; Trusts; Wills
  • Delivered: August 2024
Digital Content
  • Recording
  • PDF of Slides and Paper

To purchase login below

Description

Mr Andrew Verspaandonk, Barrister, Douglas Menzies Chambers in Victoria, presents this session into the 2024 Estate and Succession Law Conference. The recent decision of Owies has been said by some to have thrown the future of discretionary family trusts into doubt by challenging the idea that trustees of discretionary family trusts have absolute discretion to distribute income for the benefit of one or more of the beneficiaries of the trust in preference to others. Lawyers must grapple with the potential ramifications of this decision and what it means for their clients.

To help understand these issues and their potential ramifications in more depth, this session will examine:

  • What does ‘real and genuine consideration’ mean when trustees are exercising their discretion? How far does this extend?
  • The facts in Owies, what led to the decision and its outcome.
  • What does Owies mean for the future of discretionary family trusts in Australia.
  • When will the court remove a trustee?
  • Best practice tips in relation to what advice should be provided to clients following this decision when acting for both trustees and beneficiaries.
  • Should lawyers be advising their clients to evidence the rationale behind trust distributions in the event of a future challenge?

Andrew Verspaandonk, Barrister, Douglas Menzies Chambers (Vic)

About the Presenter:

Mr Andrew Verspaandonk is a member of the Victorian Bar and a member of STEP. He signed the Bar Roll in 2000 and after a wide initial practice has since developed a practice almost exclusively centred on wills and estate litigation of various kinds in the Supreme and County Courts, as Counsel and as Mediator. Cases Andrew has appeared in include Nicholson-v-Knaggs [2009] VSC 64 (the “Betty Dyke” Litigation) in 2008, one of the longest running Testamentary Capacity and Undue Influence trials in Victoria, Sinclair-v-Moss [2006] VSC 130, relating to the review of trustees’ discretions . Simpson-v-Cunning [2011] VSC 466 which confirmed the departure of Victorian law from the rule established in Re: Slater [1907] 1 Ch 665 with regard to ademption of property alienated by attorneys. Andrew has extensive mediation experience both as Counsel and as Mediator in Supreme Court and County Court proceedings. He has given many presentations and contributed articles on various aspects of wills and estates law in Victoria, interstate and overseas on behalf of various Law Societies and their journals, Law Associations, STEP, Leo Cussen Institute, Capacity Australia and private CLE providers.

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