EPP3 Business Succession Planning

EPP3 Business Succession Planning


A trust is a fiduciary relationship or arrangement created by an individual or organisation to gift funds or assets to others via a third-party trustee that will maintain the trust assets for the benefit of the beneficiaries. An inter vivos trust, or “living trust”, operates during the grantor’s lifetime and is governed by a trust deed. Testamentary trusts are formed after the death of the grantor and are governed by the provisions of their will.





Topics in this this subject include:

  • Distinguish between inter vivos trusts and testamentary trusts 
  • Advise on the set up and use of child maintenance trusts and disability trusts
  • Advise on the features of a primary production land trusts in Victoria
  • Distinguish between the different roles involved in a trust deed such as settlor, trustee and appointor
  • Distinguish between and advise on the duties and powers or a trustee
  • Analyse the effect of Australian Securities and Investments Commission (ASIC), Re; Richstar Enterprises Pty Ltd v Carey (No 6) (2006) 233 ALR 475; FCA 814 on the issue of control
  • Advise trustees and beneficiary on their personal liability
  • Advise on the distribution of income and entitlements and anti-tax avoidance measures, and
  • Draft a suitable trust for a client.



The College of Law is an Accredited Education Partner of STEP, the worldwide professional association for practitioners dealing with family inheritance and succession planning. STEP has over 20,000 members across more than 80 countries from a broad range of professional backgrounds.

One subject in either the Wills & Estates major or Estate Planning major, gives you 30 Diploma Level credits towards STEP membership. If you wish to proceed to Full STEP Membership, with use of post-nominal TEP, you must have a minimum of two years’ relevant experience and successfully complete 120 Diploma Level credits, including the successful completion of any two subjects from the following list:

  • WEP1 Foundations of Wills & Estates Practice; 
  • WEP2 Law and Practice of Estates;
  • EPP1 Foundations of Estate Planning; 
  • EPP2 Superannuation. 


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