Section 30 Further Considerations in Drafting a Tax Planning QSJT

• Library: Trust and Estate Legislation 2012

As discussed above, it is very important that the interests of the two settlors in a tax planning QSJT be clearly separated by the terms of the trust to achieve the tax planning results desired. Additional provisions should include:

· clear division of assets between the two separate shares of the settlors;

· prohibiting a settlor from receiving income or principal from the separate share of the other settlor that is not limited by an ascertainable standard;

· some mechanism for a competent settlor to amend...