If you have a family trust or other discretionary trust in your financial structure which owns, whether directly or indirectly, any residential land in NSW you should contact your tax accountant as soon as possible to assess whether any changes are required to your Trust Deed prior to 31 December 2020.

In times where adult children are living at home longer, it has become more common for them to borrow from the 'Bank of Mum and Dad' to get a foot in the door of the property market. But what happens when those adult children separate from their partner, and mum and dad want their money back?