In this webinar we will delve into the intricacies of Family Trust Elections (FTEs). Through the exploration of real-life case studies, we'll uncover practical tips and potential pitfalls associated with both making and managing FTEs. Our discussion will cover:

• Understanding the motivations behind opting for an FTE and scenarios that may lead trustees to reassess their decisions.

• Examination of FTE-related issues as identified by the Australian Taxation Office (ATO) during their reviews.

• Clarification on the necessity of an Interposed Entity Election (IEE) for receiving trust distributions without triggering Family Trust Distribution Tax (FTDT).

• Discussion on the flexibility to revoke an FTE when its original purpose becomes irrelevant and adapting to evolving circumstances.

• Assessment of the impact of a test individual's demise on a FTE.

• Evaluation of potential implications for the sale of entities subject to FTEs or IEEs.

• Exploration of inadvertent triggers of FTDT and potential avenues for reversal.