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The use of testamentary trusts is becoming an important part of estate planning. As a result, students who want to make a living as probate attorneys will need to know how trusts fit into estate planning. In addition, bar examiners realize that it is important for students to have a basic knowledge of trust law. That realization will result in bar examination questions that test that knowledge. This book is designed for use as a supplementary text for a course on wills and trusts and the primary text in a seminar or course exploring the law of trusts.
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
New essays by leading figures from the judiciary, practicing lawyers and academics illuminating the worlds of trusts and wealth management.
Based on a highly acclaimed UK title, DRAFTING TRUSTS AND WILL TRUSTS IN AUSTRALIA has been comprehensively adapted to provide authoritative guidance on drafting trusts and will trusts in eight Australian jurisdictions. Providing both a comprehensive range of precedents and a wealth of valuable advice, DRAFTING TRUSTS AND WILL TRUSTS IN AUSTRALIA cuts through verbosity and helps you to understand and prepare trust documents your client wants and needs. The book features chapters on key areas of trust law, including beneficiaries, trustees, trustee's powers and general provisions of a trust. DRAFTING TRUSTS AND WILL TRUSTS IN AUSTRALIA also offers a large number of precedents for both lifetime and will trusts. The precedents, which appear in printed form and on an accompanying CD-Rom, reveal a fresh approach to creating documents. A unique addition to the Australian market, DRAFTING TRUSTS AND WILL TRUSTS IN AUSTRALIA is an essential reference for those practising in tax law, estate and succession planning, family law and property law.
As owning and operating a small business is a very personal thing as well as being a profession, it is important that people get the right advice in an appropriate way when dealing with the issues involved in passing on their life's work. Should these successions be handled poorly this can create both major personal issues as well as greater issues for the wider economy as a whole. This book deals with the tax implications of a range of different succession plans, but more importantly deals with them in a sympathetic fashion, ensuring that other considerations are not left out of the process unduly.
Building on the success of the first edition (previously titled Discretionary Trusts, Precedents and Commentary), this new edition has been expanded to cover all types of testamentary trusts. The central purpose of this book is to provide a flexible and easy-to-use system for drafting discretionary testamentary trusts. The system is intended to allow practitioners to deal with what has always been a very complicated and difficult problem: modifying a discretionary testamentary trust precedent to accommodate the widely different family circumstances and testamentary wishes which testators present to the drafter. One testator will want a common option: to provide for a spouse; and if the spouse predeceases the testator, the testator's children. If a child predeceases the testator, the children of that child will represent that child and take what the predeceased child would have taken. All beneficiaries are to take their inheritance through a discretionary testamentary trust. However, other testators have different and more challenging requirements. To this end, Chapter 8 contains the Model Testamentary Trust precedent, as well as a clause-by-clause commentary on it. The precedent forms the foundation of every variation of the discretionary testamentary trust, and it is on this foundation that the variations are built by inserting clauses from Chapter 9. Chapter 10 contains a representative sample of widely different family situations for which a testator may wish to provide, as well as including flexible alternative clauses. In addition to providing a modular drafting precedent, the book also covers strategies dealing with superannuation (Chapter 6), family provision (Chapter 11) and blended families (Chapter 12). Book Review - The Law Society of Tasmania Important Features Authoritative and comprehensive Nationwide coverage Detailed precedents drafted by experts Related Titles Birtles,C and Neal,R, Hutley's Wills and Precedents, 9th ed 2016Perkins,M and Monahan,R Estate Planning: A Practical Guide for Estate and Financial Services Professionals, 4th ed. 2015 .
In International Taxation of Trust Income, Mark Brabazon establishes the study of international taxation of trust income as a globally coherent subject. Covering the international tax settings of Australia, New Zealand, the UK, and the US, and their taxation of grantors/settlors, beneficiaries, trusts, and trust distributions, the book identifies a set of principles and corresponding tax settings that countries may apply to cross-border income derived by, through, or from a trust. It also identifies international mismatches between tax settings and purely domestic design irregularities that cause anomalous double- or non-taxation, and proposes an approach to tax design that recognises the policy functions (including anti-avoidance) of particular rules, the relative priority of different tax claims, the fiscal sovereignty of each country, and the respective roles of national laws and tax treaties. Finally, the book includes consideration of BEPS reforms, including the transparent entity clause of the OECD Model Tax Treaty.
This casebook focuses on California law and, with respect to trust material, the focus is on traditional trust doctrines, with the more salient California doctrines discussed where appropriate. California Wills and Trusts has numerous examples throughout, as well as ''notes'' that are often combinations of comments, examples, and broad questions based on note material. In addition, the analytical material covered in the earlier chapters is supplemented with dedicated problems. All pertinent statutory material is included in the text, so there is no need for a statutory supplement. The authors bring an interesting blend of backgrounds to the material -- Wendel contributes a traditional academic approach and Popovich incorporates his academic experience and hands-on practice in the field. The unique blend of theoretical and practitioner-oriented note material aids student learning and application.​