Can You Safely Amend Trust Instruments Post Bamford?

Date: 08/03/2011

If you're thinking of amending trust deeds in the wake of the Bamford case, also consider the Federal Court majority decision in the Clark case.. there are some important lessons

It's not only the famous Bamford case which is having an effect on the debate over questions of distributions from trusts and the continuity of the trust estate. The long-running Clark case, which resulted in differing opinions on the Full Bench of the Federal Court, and now seems destined for the High Court,is also proving instructive. Damien Bourke, executive director at Ernst and Young, says it highlighted several important issues and should be carefully studied bytrustees and their tax advisers, especially if they are contemplating changes to trust deeds.