This presentation examines some of the issues to be considered by an estate planner when considering the use of life estates and whether this approach still has a role in the modern will. The presentation considers some of the general issues relating to testamentary trusts:
- nature of life interests and reversions
- capital gains tax and life estates
- practical application of taxation ruling TR 2006/14
- advantages of the testamentary trust with life and reversionary interests
- aset protection and testamentary trusts
- the master trust concept role of family agreements in the estate plan.