If you have been following Grant Abbott's discussions on discretionary trusts you would have seen instances where discretionary trusts can be violated and lose their asset protection simply due to the way they have been established. This would come as a surprise to the 800,000 discretionary trustees in Australia and also their accountants. We have witnessed poor discretionary trust set ups lead to years of legal wrangling, expensive litigation and loss of assets. But no more with a Leading Member Discretionary Trust LMDT.
In this session Grant Abbott will be going through the differences between a LMDT and a standard Discretionary Trust, reveal his best strategies, highlight relevant clauses in the deed and the process for establishment or upgrade of an existing discretionary trust.