Tuesday, November 24, 2015

Are trusts still useful post Spry?

As set out in earlier posts, and with thanks to the Television Education Network, today’s post addresses the issue of ‘Are trusts still useful post Spry?’ at the following link - https://www.youtube.com/watch?v=IjcRGemWHyk

As usual, a transcript of the presentation for those that cannot (or choose not) to view the presentation is below –

Certainly, immediately following Spry, for an extended period, the usefulness of trusts was under the spotlight and there was significant nervousness about how robust they actually were going to be.

The reality has been that this conclusion has been tempered by the combination of firstly the fact that Spry is a bit of an outlier decision and actually driven a lot by factual scenario, which is a relatively strange set of circumstances, and the fact that there have been so many cases since Spry that have respected the integrity of trusts.

Therefore, it is generally accepted that all forms of trusts, particularly testamentary trusts, will remain the vehicle of choice in estate planning context at least for the foreseeable future.