Can you amend my client's trust deed?
We can prepare a trust deed amendment to make the following changes to an existing trust:
- Change the Trust Name
- Change the Trustee(s)
- Change the Appointor(s)
- Wind Up/Vest a Discretionary Trust
- Wind Up/Vest a Unit Trust
Our legal team will review your existing deed and prepare the amendment as a supplementary deed to be kept with the original trust deed. The deed and supporting documents will be prepared in accordance with the rules as set out in the original trust deed.
Where more than one of these changes is to be made, please note the price is $350 per change and separate deeds of amendment will be prepared.
In some rare cases an initial deed of amendment may be required to add the power to make the amendment. In these cases a further $350 applies to make that amendment to the deed to enable the change you want to make.
Please note: we are unable to change/remove beneficiaries of an existing trust due to the risk of resettling the trust. When a "resettlement" occurs, the old trust is considered to come to an end and a new one begins, giving rise to CGT and stamp duty issues. We would recommend seeking legal advice in this situation.