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Bequeathing units and shares to a testamentary discretionary trust
A testamentary discretionary trust will (TDT) can be an effective vehicle for holding and managing assets for beneficiaries under a will. That said, the fact that an asset can be left to a TDT does not mean that the transfer of the asset, or subsequent dealings with it, will necessarily be straightforward. Shares in a…
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Can a unit trust be wound up under the oppression remedy?
A unitholder can use the oppression remedy against a corporate trustee, but only as a member of the trustee company and only if there is real oppression. This article explains sections 53, 232 and 233 of the Corporations Act and what the NSW Court of Appeal decided in Ritossa.
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