78243 Advanced Trusts Law
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Subject handbook information prior to 2017 is available in the Archives.
Credit points: 6 cp
Result type: Grade and marks
Requisite(s): ( 78101c Postgraduate Legal Research OR ((22 credit points of completed study in spk(s): C07122 Graduate Diploma Legal Studies OR 22 credit points of completed study in C04147 Master of Legal Studies OR 22 credit points of completed study in C07074 Graduate Diploma Legal Studies OR 22 credit points of completed study in spk(s): C04264 Master of Legal Studies)) OR ((94 credit points of completed study in spk(s): C04236 Juris Doctor OR 142 credit points of completed study in spk(s): C04250 Juris Doctor Master of Business Administration) AND 70106c Principles of Public International Law AND 70107c Principles of Company Law) OR (94 credit points of completed study in spk(s): C04320 Juris Doctor Graduate Certificate Professional Legal Practice AND 70106 Principles of Public International Law))
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
There are course requisites for this subject. See access conditions.
Description
This subject builds on the fundamental aspects of trusts law covered in compulsory equity and trusts core subjects by engaging in a detailed examination of the use of trusts across a range of commercial enterprises, including property trusts, managed investment schemes and superannuation trusts. The rights, duties and liabilities of trustees are considered together with the rights and liabilities of beneficiaries of different types of trusts. Variations of trust documents and the indemnification of trustees are examined. The liability of third parties dealing with trustees is considered. An overview of taxation and superannuation regulations relevant to the commercial use of trusts is also provided.
Subject learning objectives (SLOs)
Upon successful completion of this subject students should be able to:
| 1. | demonstrate a high-level of understanding of the use of trusts across a range of commercial transactions and the commercial and legal considerations that apply to such uses; |
|---|---|
| 2. | demonstrate the ability to critically assess the appropriate use of trust powers in common commercial situations encountered by trustees; |
| 3. | demonstrate an appreciation of the range of legal rules that apply to the formation and management of trusts, including principles of general law and statutory law; |
| 4. | apply appropriate research techniques to identify relevant legal and equitable rules to assist with advising on the formation and administration of trusts. |
Teaching and learning strategies
Strategy 1 Class discussion on assigned topics
Each class will involve both small and large group discussions and will be facilitated by the teacher. Topics will be set in advance and require students to read in advance of each class. There will be no formal lectures, but rather a seminar style discussion involving all members of the class.
Strategy 2 Legal problem solving
Each class will have at least 40 minutes devoted to applying principles considered in the prior week’s readings by working through one or more hypothetical problem scenarios.
Strategy 3 Case study evaluations
Students will be expected to present one case study to the class during the semester. This will involve either a decided case or a practical case study based on the application of relevant principles to a particular area (such as the formation of a superannuation trust).
Strategy 4 Guest speaker presentations
A number of practitioners from the law and banking fields will give short presentations to give a practical aspect to the subject and to contextualise the doctrinal aspects of the material.
Content (topics)
1 Introduction and Overview of different uses of trusts
2 Constitution and variation of trusts
3 Overview of taxation issues for trust administration
4 Rights, duties and liabilities of trustees
5 Rights, duties and liabilities of trustees
6 Rights and liabilities of beneficiaries
7 Remedies for breach of trust
8 Liabilities of third parties
9 Managed investment schemes
10 Private investment trusts
11 Superannuation trusts
12 Superannuation trusts
13 Use of trusts in corporate financing transactions
Assessment
Assessment task 1: Class Participation
| Weight: | 20% |
|---|
Assessment task 2: Class presentation (case study)
| Weight: | 20% |
|---|---|
| Length: | 1 A4 page summary, no more than 400 words |
Assessment task 3: Research Essay
| Weight: | 60% |
|---|---|
| Length: | 4000 words |
Required texts
Heydon and Leeming, Jacob's Law of Trusts, 8th ed, LexisNexis.
Recommended texts
Australian books
D'Angelo, Commercial Trusts, LexisNexis
Dal Pont, Equity and Trusts, 6th ed, Thomsonreuters
Evans, Equity and Trusts, 4th ed, LexisNexis
Hepburn, Principles of Equity and Trusts, 5th ed, Federation Press
Ong, Trusts Law in Australia, 4th ed, Federation Press
Radan et al, Principles of Australian Equity and Trusts, 3rd ed, LexisNexis
Australian online service
The Law of Trusts Online, Westlaw AU (usually referred to as Ford and Lee on Trusts)
UK books
Garton et al, Moffat's Trusts Law, 6th ed, Cambridge University Press
Glister and Lee, Hanbury and Martin: Modern Equity, 20th ed, Sweet and Maxwell
Hayton et al, Underhill and Hayton: law of Trusts and Trustees, 19th ed, LexisNexis Butterworths
McGhee, Snell's Equity, 33rd ed, Sweet and Maxwell
Tucker et al, Lewin on Trusts, 19th ed, Sweet and Maxwell
