If you invest or trade through a discretionary trust structure then after the decision of the High Court in “Bamford” your trust deed should be checked to confirm it gives sufficient flexibility and an adequate definition with respect to determining trust income.

In the event that the Deed doesn’t then it could have very negative consequences on the ability of the trustee to make an effective distribution and should be varied.

Miller Sockhill Lawyers are a firm of solicitors in Buderim who can assist in all areas of commercial law. If you have concerns over the health of your Trust Deed then contact us for an obligation free check-up.