Family Trusts and the Family Protection Act 1955
Under the Family Protection Act 1955 (FPA), parents have a moral duty to provide in their Wills for their children’s maintenance and support.
Trusts
Running a Family Trust
Make sure your family trust stands up to scrutiny. The Sunday Star Times recently published an article about Do-It-Yourself family trusts and how failure to manage them correctly can put the integrity of a trust at risk.
How is a Trust’s Income Taxed?
Income earned by a trust can be either retained by the trust or it can be distributed to the trust’s beneficiaries.
Bankruptcy and Trusts
The present economic downturn has thrown up the problem of what to do when a settlor and/or a trustee becomes bankrupt. This article looks at possible remedies for both situations.
Loans and Capital Distributions to Beneficiaries
In the last issue of Trust eSpeaking (September 2008), we discussed the scenario that often occurs when trustees provide funds to beneficiaries, for example, to help in the purchase of a house.