• CPD Points: 1 [PS] [SL]
  • Price: $77.00
  • Area: Elder and Succession Law; Estate Planning; Litigation; Powers of Attorney; Succession Planning; Trusts; Wills
  • Delivered: October 2020
Digital Content
  • Recording
  • Paper (none)

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Description

Mr Philip Jackson SC presented this session as part of the Litigation Conference 2020. Family business assets or equity are commonly owned in a discretionary Family Trust or Trusts. Succession planning may require providing for what happens to control roles in those Trusts in the event of the loss of capacity or death of the current controller(s). At the point that a business is “handed over” to the next generation, the lawyer may be required to advise about and draft changes to the Trust Deed, and changes to controlling roles in the Trust.

As the family in Mercanti experienced, family wealth, dynamics and competing interests can be fertile ground for disputes to arise in relation to Family Trusts. This session presented from the perspective of Senior Counsel will consider the following:

  • The issues and findings in Mercanti – why it went so badly wrong
  • Requirements for valid amendments to Trust Deeds, and what (if any) are the limits?
  • Potential remedies for disgruntled beneficiaries
  • Key Trust law considerations when changing Trustees and/or Appointors
  • Analysis of the “case concept” used by each party in Mercanti at first instance
  • Documentary evidence in cases involving disputes about Trusts – what will likely be relevant, and how to get it in
  • Practical lessons to be drawn from the evidence and experience of the lawyers who became witnesses in Mercanti

Philip Jackson SC, Barrister, Malthouse Chambers

About the Presenter:

Mr Philip Jackson SC is a barrister at Malthouse Chambers. Philip was President, Tasmanian Bar Association from 1993–1995, President, Law Society of Tasmania from and Council member, Law Council of Australia. Philip was awarded a Centenary Medal for service to Australian society and the law in 2003. He has been a member of the Professional Ethics Committee, Law Council of Australia since 2009, and since 2010 continues to be an executive member of the Legal Practice Section, Law Council of Australia. Since 2017 he has been Chairman, Disciplinary Tribunal (Tas.). In 2015, Philip was appointed silk. Philip’s areas of practice are civil litigation (excluding family law): insurance and commercial; contract and equity; property; professional conduct and professional liability; administrative review; personal injury and workers compensation.

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