Liam Shorte

Yeah.

So, you know, for example, if there was a hundred thousand income for the year and there was a widow and four children, each of them could be allocated 20,000 a year and probably pay no tax at all.

Okay.

It was a great way to make sure that the next generation was taken care of in the event of something going wrong.

Well, I see that a lot of it was, again, a lot of it was done originally as a protection measure.

So, and the problem is if you move to a fixed trust, testamentary trust, you're really taking that away because you're saying exactly how much each person gets.

Yeah, exactly.

That asset protection side of it is gone.

Right, right.

I think they may seriously consider it because it's not only the fact that they may need to work hard to get it through Parliament.

but now you've got the whole legal fraternity turning on them.

And I'm sure there's going to be court cases, there's going to be challenges, so that the fine print is going to be absolutely ripped apart.

So this is one, it's probably one easy one for the government to back off and say,

Look, we hadn't realized how much it would affect people that benefit from testamentary trusts.

Family trusts are slightly different because that's when you're alive.

And that's seen as sort of being unfair to people earning normal money.

But testamentary trusts were designed to protect people.

beneficiaries in the long term.

It's a totally different.

Yeah, I think there has to be because basically, you know, you think in terms of they're saying they want people to be treated who earn money the same as people who have assets.