Tips for Trustees Drafting Distribution Minutes

The complexity of drafting effective trust resolutions continues to be underestimated given the range of issues that can potentially undermine the intentions of a trustee when attempting to make distributions. We provide some key tips for drafting the annual distribution minutes including: 1. The resolution must be made in writing and signed by 30 June 2. Be aware of how the trust deed requires the trustee to determine income 3. Conditional or contingent distribution resolutions are dangerous and should not be used 4. Ability to stream capital gains and franked dividends.

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