How do LightYear Docs discretionary trust deeds deal with the Owies v JJE Nominees Pty Ltd decision? Are they strong enough to ensure the trustee has absolute discretion?

The Leading Member discretionary trust provides the ultimate protection as the Leading Member and successor Leading Members are the primary beneficiaries. For our discretionary trust if a person is named as a primary beneficiary then they fall into the Owies trap. We are building a new Excluded Discretionary Trust which excludes specific persons from being beneficiaries for those trusts which have named beneficiaries which the Appointor and Trustee want to exclude but the best solution ALWAYS is the Leading Member discretionary trust.

Please be advised this is general information only, and is not to be taken as legal advice. If you would like more information, or have a legal query, please contact Abbott & Mourly directly.
Reviewed: 17/01/2024