Why might a change be needed?
There are many changes which may be required during the life of a trust. These include:
Changes to the parties
- changing the trustee
- changing the unit holders (of a unit trust) or members (of an SMSF)
- changing the appointor
- introducing an appointor succession plan
Changes to the trust deed
- including additional provisions in the trust deed
- removing certain provisions from the trust deed
- changing the name of the trust
- changing the vesting date
Winding up the trust
- bringing the trust to an end
Most of the above services are carried out by Castle Legal to ensure the changes are carried out in a legally effective manner. Mostly, it is not sufficient for the trustee to simply pass a resolution in order to give proper legal effect to these changes.
You can find out more about Castle Legal here, or you can give them a call on 03 9899 9300.
In addition, our Castle Legal team have written many articles on the topic of trust deeds. You can find links to a few of these useful articles below:
- Why it’s vital to update SMSF deeds every TWO years…at least
- Pre-1995 discretionary trust deeds – potential for ‘lock down’
- Varying a discretionary trust without CGT resettlement