New Trust

Client information for setting up a new Trust
  • A trust name should normally be simple and explain who or what is involved. It is generally not used as a trading name. Examples Smith Family Trust; Smith Investment Trust; Flying High Trust; South Perth Property Trust.

    A Corporate Trustee adds an extra layer of protection and flexibility to a trust.

    You have a cleanskin company taking responsibility for the affairs of the trust.

    It costs more but usually delivers a better result. An Individual Trustee is where you and/or your partner or other family member take responsibility for the affairs of the trust.

    This is cheaper but more difficult to transfer control and is less effective at managing risk. We can arrange legal advice if you require further information.

  • This can be your business address (if you have one) or home address of the Appointor (controller) of the Trust
  • Full names and addresses to be provided. Common practice is this will be you and your spouse / de facto and your children. Please let us know if either you or your partner have children from a former relationship so we can ensure appropriate advice is provided. If you or family members have an existing trust or As a general rule, the beneficiaries of a discretionary trust include all extended family members (spouse/de facto, children, parents, siblings, spouse/de facto of siblings, nieces and nephews, uncles and aunts) and related entities however specified beneficiaries are generally limited to direct family members such as you, your spouse and your children.
  • The Appointor is the controlling mind of the trust. The person who nominates and can change the Trustee and the person who chooses how income will be distributed. You can have a sole Appointor, joint Appointors (you must act together) or joint and several Appointors (you can act together however each Appointor can make a decision on their own on behalf of the Trust)
    Many modern trusts are set up without a Guardian. A Guardian acts as a counter balance to the powers of the Appointor and thus protects the rights of beneficiaries, whereby any major changes to the Trust require authorisation from the Guardian. This can be the case where a parent is intending to set up a trust to hand over an asset such as a farm to a child but wishes to retain a level of control.
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