Section 7C of the Income Tax Act which came into effect on 1 March 2017 will impact trusts extensively. In the past it was common practice for a trust to acquire assets via an interest-free or low interest loan from a natural person.…
By disposing of growth assets on an interest-free loan to a trust, individuals would limit their estate duty to the value of the loan account at the date of disposal. Any growth in the value of the asset after disposal would accrue to the trust….
It is clear from legal judgments that one of the essential requirements of a trust is that there must be a clear separation regarding the enjoyment of trust assets, from the control of those assets Beneficiaries enjoy trust assets, whilst trustees control….
C2M together with MHI Attorneys held a Trust Seminar for our clients on 16 August 2017 where Prof. Walter Geach discussed the future of trusts for estate planning purposes. He also highlighted the importance of independant trustees….
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Prof. W Geach will soon be writing an article on Testementary Trusts. Be sure to check in for updates.
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