Trust & Superannuation Deed Amendments
Do you or any of your clients have a family/discretionary trust, unit trust or self-managed superannuation fund and want to change the deed?
Often the change is to remove and replace a trustee with a new one. In other situations, it may be changing a class of potential beneficiaries, dealing with the power of appointment, bringing forward the termination date or changing the trustee’s rights and/or obligations.
Care needs to be taken not to vest the trust or to cause a resettlement, which can give rise to unintended consequences, including:
- CGT and
- stamp duty.
There is no real “one size fits all” solution. Deeds can vary greatly as to the process and requirements.
McKillop Legal can assist in reviewing the relevant Deed/Rules and drafting an appropriate document to give effect to the required change.
Craig Pryor is principal solicitor at McKillop Legal. For further information in relation to trusts, estate planning, business succession or any other commercial law matter, contact Craig Pryor on (02) 9521 2455 or email firstname.lastname@example.org.