A Matter of Trusts
Taxation in Australia Journal
This article discusses the nature of the trustee’s right of indemnity and, in part, introduces some of the legal rights and responsibilities which attend the trust relationship between the trustee, the trust property, the beneficiaries and, in effect, other entities encountering “the trust”. First, this article recounts the general content of the right of indemnity as against the trust assets (that is, both recoupment and exoneration) and, briefly, as against he beneficiaries personally.
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