Trusts are dynamic and evolving entities that are constantly changing. As such we need to keep our fingers on the pulse and continually review the position of trusts. Trust have traditionally been used because they offer flexibility and minimal compliance requirements. The master had minimal oversight of the operations of the trust and trustees could pretty much dictate terms. These days are gone, for a number of reasons. Firstly, beneficiaries are far more aware of their rights than they used to be. Secondly, the introduction of Section 7C has put a spotlight on beneficiary distributions and highlighted multiple different interpretations. The aim of this session is to provide you with an overview of the compliance requirements when dealing with trusts.
This Trusts: Governance, Accounting and Tax Issues Series consists of three parts (each webinar can be attended independently.
Webinar 2: The Administration and Accounting for a Trust
After attending these webinars, you will be: