Why guest checkout?
Why registered user?
last updated Aug 2023
No, but the trust can exist with an additional named beneficiary. Click here to read more...
A trust is a legal relationship between a trustee and the beneficiary or beneficiaries.
If a sole trustee was also a sole named beneficiary, then this would be an agreement that a person had with themselves. The law says that no trust can exist in these circumstances.
However, a trustee can be a beneficiary of the trust provided there is at least one other named beneficiary as well.
No, but the trustee of a trust can. Click here to read more...
A trust cannot be a beneficiary under a discretionary trust because the law says a trust is not a separate legal person.
Even so, a trustee (in his, her or its capacity as trustee) can be a beneficiary of a trust — as long as you include the trustee's name and their capacity. In this case, the trustee is effectively a beneficiary of the discretionary trust for the beneficiaries of the trustee's own trust.
No, but you may be able to use a similar deed. Click here to read more...
You can't simply replace a discretionary trust deed because to do so is likely to create a new trust, which has tax and stamp duty implications.
If the deed has been lost you need to consider the following steps in consultation with a lawyer:
The person who settles the trust can not receive distributions of trust income or assets. Therefore the settlor should be someone independent of the beneficiaries and trustees — such as a family friend or an adviser.
A Cleardocs Discretionary Trust deed is suitable if you wish to name a natural person, company or incorporated association as a beneficiary. You should choose carefully because named beneficiaries may be entitled to receive trust income or property in certain circumstances. It is difficult to remove a named beneficiary without serious tax consequences for the trust.
It depends on the specified establishment date and the execution date. Click here to read more...
Consider if a foreign person will be involved in the administration or conduct of the trust, is a beneficiary of the trust or is related to a person who has a beneficial interest in the trust. If so, and if either now or in the future this trust will acquire land in Australia, the trustee should obtain advice about whether the trust may be liable for additional stamp duty and surcharge rates of land tax.
The trust will exist from the latter of:
You must not backdate your trust deed.
The law in each state requires that your trust deed is stamped within a certain time period. But you do not have to have your trust deed stamped before you can use your trust.