More and more people are using trusts to protect assets for tax and succession planning, and to achieve their business and personal goals. However, this complex area of law is also full of pitfalls for the unwary, including business owners who wish to set up a trust, or in-house counsel who encounter a trust shareholder.
In this story-based session, we will discuss:
- Different types of trusts and their tax characteristics
- Uses of trusts in the corporate context
- Risks, obligations and duties of corporations in dealing with trusts
- Common problems that may arise and possible solutions, tips and best practices