This session will covers the following:
- What does it mean to “vest” a trust? How do you vest a trust? Does it happen by operation of law, for example, under a clause of the deed? Analysis of TR 2018/6
- When you vest a trust, does the trust end? What happens to powers to make discretionary allocations? What happens to allocations accidentally made after the trust has vested? Can you sue to recover them? Who do you sue?
- Reform in South Australia, and more recently New Zealand and Queensland. What does it mean if there is no rule against perpetuities, or the maximum length before vesting is 80 (or 125 years as in NZ, UK and shortly Qld)?
- How do you make sure your trust is validly made under the law of a particular state/country? Does it make a difference if you are dealing with land, as opposed to shares or money as trust property? and
- Changing proper law: e.g. Re Perenna Nominees (2022).