Solution-Relevant statute and case law

Relevant statute and case law

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Reference no: EM132106939

Answer the following question with reference to any relevant statute and case law.

Tanya is a wealthy business woman with a high income and six children. Tanya has set up a company for the operation of the business so as to save on tax, but also to reduce her personal income tax that she has to pay on the salary that she takes out of the company. She also wants to preserve some money for her children in the future when they reach 21 years of age. She has heard something about trusts but it sounded complicated.

She comes to you for advice. She wants to be the trustee but does not know what her duties might be. Discuss what would be the most suitable trust for her and what kind of legal duties she could expect to have to comply with.

Reference no: EM132106939

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Relevant statute and case law

Reference no: EM132106939

Reference no: EM132106939

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