Discretionary (Family) Trust Minutes & Resolutions
12 months use of the package for each trust
Use Cleardocs to create a range of Minutes and Resolutions for a Discretionary (Family) Trust. These Minutes and Resolutions record many of the most important decisions made by a trustee when operating a Discretionary (Family) Trust including income distribution and deed amendments.
Time taken to complete 10 minutes.
Cost $ 71.50 (inc GST) — 12 months use of the Package for the trust which the Minute or Resolution relates to.
Legal Sign-offThe master documents are written in plain language and are signed-off by our lawyers at Maddocks.
What Discretionary Trust Minutes and Resolutions are available through Cleardocs?
Cleardocs offers the following family trust Minutes and Resolutions:
- establishment of the trust;
- open a bank account for the trust;
- distribution of trust income;
- amendment of the trust deed;
- appoint a trustee in place of a retiring trustee;
- appoint an appointor; and
- winding up of trust.
Together with each Minute or Resolution, you will receive an Establishment Kit explaining what to do next.
What information do you need to order a Discretionary (Family) Trust Minute or Resolution through Cleardocs?
To create a Discretionary (Family) Trust Minute or Resolution, you complete the Cleardocs question interface with:
- the type of Minute or Resolution you wish to create;
- the name of the trust;
- for a Minute: details of the meeting (if relevant) — date, time, place, attendees, name of chair;
- for a circulating Resolution: the date the resolution will be circulated (if relevant);
- details of the transaction or event to which the Minute or Resolution relates; and
- if the relevant Minute or Resolution also requires a meeting of the members of the appointor — the details of this meeting too.
Minute or Resolution?
Trustees of discretionary trusts can make decisions:
- where there are individual trustees — at meetings;
- where there is a corporate trustee with more than 1 director — at meetings of directors, or by all of the directors signing a set of resolutions; or
- where there is a corporate trustee with 1 director — by the sole director signing a set of resolutions.
The Cleardocs Package lets you choose the option which is most suitable for your particular trust.
Cleardocs deed not required for Cleardocs Discretionary (Family) Trust Minutes & Resolutions
To use this Cleardocs Package, a trust does not require an underlying Cleardocs deed.
If the trust does not have a Cleardocs deed in place, you should review the deed to ensure the Minute or Resolution is consistent with the procedures set out for the particular transaction or event. This is particularly important for the distribution of income minute. If you are unsure, you should obtain your own legal, financial and accounting advice — we cannot give you that advice.
Amending the trust deed: a word of warning
If you need to vary your family trust deed, you must engage a lawyer to draft the necessary changes. A lawyer must consider the proposed changes to ensure that the change — such as amending named beneficiaries or classes or beneficiaries — does not trigger the creation of a new trust (there are tax implications to be aware of with this) and that the variation process described in the deed is followed.
Seek legal advice
The Discretionary (Family) Trust Minutes & Resolutions information here should be considered general in nature, and in no way interpreted as legal advice. You must always seek your own independent legal, accounting and financial advice about your particular situation. The summary on this page is for information purposes only.
Questions or further information
If you have questions:
- about how to use Cleardocs, contact the Cleardocs helpline on 1300 307 343.
- about legal issues, contact the Cleardocs helpline on 1300 307 343. If you need advice, we will arrange for you to speak with a lawyer at Maddocks. The firm provides a free legal helpline in relation to the documents Cleardocs provides. If you require other legal advice in relation to your particular circumstances, then this will be charged for.
- The trust does not require an underlying Cleardocs deed
- Covers a wide range of trust transactions or events including income distribution and deed amendments
- Minutes and Resolutions stored online for future access
- Extensive online help and local phone support
- Easy to use question interface
- Pre-population of trust details from earlier Cleardocs orders - saving you typing