Page 19 - Estate Planning Documents

DISCRETIONARY POWERS SCHEDULE

26. Executor’s Discretion regarding BCTT Terms

During the Administration Phase of My Estate, My Executor, subject to obtaining the consent
of the relevant Primary Beneficiary named in the Main Provisions of My Will, shall have the
power to vary the terms of the Beneficiary Controlled Testamentary Trust established under
this Will to ensure that, prior to the operation of the trust:
a) Effective Control of the Beneficiary Controlled Testamentary Trust remains with the
Executors; or
b) The provisions of the BCTT Terms Schedule are altered such that the powers of the
Trustee of the trust are more restricted.

27. Express Options

For the purposes of the preceding clause of this Schedule, the options outlined in this clause
are examples which may be resorted to by My Executor when exercising their discretionary
powers. This list is intended to be inclusive and not exhaustive as to the options available.

27.1 Central Management and Control to remain in Australia: To ensure that the Beneficiary
Controlled Testamentary Trust for the Primary Beneficiary remains an Australian resident trust
estate as defined in subsection 95(2) of the Tax Acts every financial year during the operation
of the trust. In doing so, My Executor shall ensure that:
a) At least one of the trustees should remain an Australian tax resident every financial
year during the operation of the trust;
b) Where the trustee is a company, the company remains an Australian tax resident
every financial year during the operation of the trust; or
c) In any financial year where none of the trustees are Australian tax residents, the
central management and control of the trust takes place in Australia in that financial

year.
27.2 Right of Residence: Any real estate that would otherwise have formed part of a Beneficiary
Controlled Testamentary Trust for the Primary Beneficiary may be held for one or more of the
General Beneficiaries to the exclusion of others provided that during the Primary Beneficiary’s
lifetime, the Primary Beneficiary shall have a personal right of residence in respect of the
properties on terms and conditions as agreed to between the Primary Beneficiary and My
Executor.

27.3 Superannuation Death Benefits Trust: Any Superannuation Death Benefits that would
otherwise have formed part of a Beneficiary Controlled Testamentary Trust for the Primary
Beneficiary may be held on separate trust, the income and capital beneficiaries of which are
restricted at all times to such of the General Beneficiaries who are also my Death Benefits
Dependants.

27.4 Parallel Testamentary Trusts: The income and capital of one Beneficiary Controlled
Testamentary Trust may be held on several separate trusts with the following terms:

09.06.17:rga:170707_001.docx