Lachlan Wraith has a broad and practical understanding of legal and taxation issues related to estates, trusts (testamentary, family, special disability, and compensation trusts), charitable trusts (including “PAFS”) and representative administrations (VCAT and EPoA). He is intimately acquainted with issues relating to licensed trustee companies, Chapter 5D of the Corporations Act and the regulatory environment in which licensed trustee companies operate. Lachlan also has considerable experience in the management and litigation of deceased estates.
PRIOR EXPERIENCE
In 2007, Lachlan was appointed in-house counsel in the Trust and Estate division of Equity Trustees Ltd and a year later became Head of Personal Estates and Trusts. As Head of this Division, Lachlan had responsibility for the oversight,management, compliance, administration and associated legal issues for Equity Trustee's:
- charitable trusts,
- deceased estate management and litigation,
- ongoing trusts, including testamentary trusts, family trusts, special disability trusts and compensation trusts,
- representative administrations under VCAT order, and
- enduring power of attorney appointments.
Lachlan was also responsible for overseeing the managment of tax matters in relation to all trusts within the Division.
Lachlan completed his articles at Morris & Sawers (Kyabram) in 1993. He signed the Bar roll in 1996 where his practice focussed on Family Law. He has appeared in numerous trial before the Family Court and the Federal Magistrates' Court, and a number of Family Court Appeals. Lachlan's practice at the Bar was continuous up until his appointment to Equity Trustees in 2007.
QUALIFICATIONS
BA, LLB (1992)
INDUSTRY REPRESENTATION, BOARDS AND COMMITTEES
Lachlan represented Equity Trustees on the industry body (The Trustee Corporations Association and later the FSC), including being significantly involved in Government consultation during the drafting and implementation of the new Chapter 5D of the Corporations Act (by which the Commonwealth assumed regulatory responsibility for licensed trustee companies from the States). Lachlan represented the industry in State Government reviews of guardianship laws and powers of attorney.
Lachlan continues to hold the position of Trustee Company Industry Representative on the Financial Ombudsman;s Service (FOS) panel dealing with complaints against trustee companies.
PAPERS
"Managing The Estate: Real Property & Business Assets", Solicitors CPD Seminar: Trials & Tribulations of Executors, coordinated by TV Education Network, Medina Grand Hotel, Melbourne, 26 August, 2009
"CGT" and Testamentary Asset Distribution", LIV Monthly Wills & Estate Study Group, 26 November, 2009
"CGT and Testamentary Asset Distribution: A Practical Guide", Solicitors CPD Seminar. "CPD Essentials: Wills & Estates: Difficult Issues in Estate Administration" presented by TV Education Network, Medina Grand Hotel, Melbourne, 19 March 2010
"Philanthropic Trusts: Tips, Traps and Recent Developments" Solicitors CDP Seminar, Lexis Nexus 8th Annual Wills & Estates Conference, 24 March, 2010, Stamford Plaza, Melbourne
"Trust Portfolio Management": The Obligations of Trustees", EQT Seminar, RACV Club Melbourne, 19 April, 2010
"Trustee responsibilities: Problems and Pitfalls", Law Institute of Victoria, Annual Succession Law Conference, RACV Club Melbourne, 10 September, 2010
"Fiduciary Duties & Succession Planning", LIV Monthly Business Law Section Meeting, 15 February, 2011 and Northern Suburbs Law Association, 8 June 2011
"Dealing With Licensed Trustee Companies and Chapter 5D of the Corporations Act (2001)", Law Institute of Victoria Succession Law Conference, 30 August 2013
"Year in Review: Case Law and Developments in Estates Practice", Legalwise Seminars: Estate Disputes the Complex Issues, 28 November, 2013
"Family Provision – A Year in Review: Justice Legislation Amendment (Succession and Surrogacy) Bill 2014 and Recent Cases", Law Institute of Victoria Succession Law Conference, 12 September 2014.
"The Intersection between Family Law and Deceased Estates", Geelong Law Association, 30 October 2015
