Discretionary (Family) Trust - Foreign Beneficiary Exclusion

Creating a Trust

Should you decide you need a Trust, you should seek legal and financial advice to ascertain the most suitable trust for you. Whether you are considering Asset Protection and/or Estate Planning you must also consider Tax Planning prior to creation of the Trust as well as Duties implications.

We supply a "generic" deed [under license to our legal advisors] generally within 24 to 48 hours of receipt of your order.  The Deed will be suppied in triplicate, with Trustee Declarations.

What is a Discretionary Trust Deed?

A Discretionary Trust, also known as a Family Trust (there is a differing definition in the Tax Acts), is not a separate legal entity unlike a Company. The sole purpose of a Discretionary Trust is to distribute income to particular Beneficiaries nominated in the Deed and decided by the Trustee at any given time (at the trustee's discretion). Reasons why you would consider using a trust are: Asset Protection, Estate Planning and flexibility for distribution of income.
Whilst a Trust cannot hold assets or incur liabilities, the Trustee has a legal obligation to hold and maintain the assets and liabilities on behalf of the Trust for the Beneficiaries.

The most common form of a Trustee is an Incorporated Company controlled by the Principal Beneficiary (Appointor) of the Trust to ensure the continuity and future security of the Trust.

Definitions

Settlor : The person who establishes the trust. Once the Trust has been created the Settlor no longer has any rights or benefits from the Trust.
Trustee : Person (Company) who has legal title/control over property/assets on behalf of another. A Trustee may be a Company to place assets at arms length from your business and personal assets. Property and assets are purchased and held by the Trustee (e.g. "Trustee" as trustee for the "Family Trust").
Beneficiary : Primary Beneficiaries are the people for which the Trust is created (usually lineal family); General Class of Beneficiaries may be anyone related to the Primary Beneficiaries, non-lineal family, and any company/trust in which a primary beneficiary of the trust has an interest.
Appointor : The person who represents the Primary Beneficiaries and may cease or appoint the Trustee.
Succession Appointor : Appointor's personal representative to take over the role upon the death, resignation or inability to act of the Appointor. This is an important consideration when setting up the Trust as Assets held in a trust do not form part of your estate and do not pass in accordance with the terms of your will.

This information is supplied as a brief outline only and does not preclude the Ordering Party from fulfilling their legal obligations. Company Planners Pty Ltd cannot explain every responsibility or cover every situation, and in this regard you should seek professional business and financial advice. You will be held responsible for your legal obligations and not Company Planners Pty Ltd.

Download the order form

Discretionary Family Trust 2021 - (PDF) (274k)

Discretionary Family Trust 2021 - (WORD) (111k)

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Trust Deeds are dutiable documents and our pricing does not include stamping or payment of duties. Fees vary from state to state and you should refer to the Office of State Revenue in your jurisdiction.

Trust Details (* Required Fields)

Governing Jurisdiction (State)

Trust Name:

Settlor

If a company please supply the A.C.N. and registered address

Name:

Address:

*

Settled Sum:

Foreign Beneficiary Exclusion:

Trustee Details

If a company please supply A.C.N. and registered address

Name:

*

Address:

*

Name:

Address:

Name:

Address:

Name:

Address:

Beneficiary details

If a company please supply A.C.N. and registered address

Name:

*

Address:

*

Name:

Address:

Name:

Address:

Name:

Address:

Additionl General Beneficiaries

Name:

Address:

Name:

Address:

Name:

Address:

Appointer(s)

Name:

*

Address:

*

Name:

Address:

Succession Appointer(s)

Name:

*

Address:

*

Name:

Address:

Contact Details (The Client)

Name:

*

Firm:

*

Suite/Unit/Level No.

Street No. and Name

Suburb/State/Postcode

*

Email Address:

*

Phone Number:

*

Facsimile:

Preferred Delivery:

Post / Courier (Mandatory)
Email (Deed in PDF)

Disclaimer and Conditions

I / we the client, acknowledge and agree that prior to submitting this order, I / we have read, understood and shall be bound by the same including the Conditions which appear hereafter.

Agreement:

Yes No

Instructions for Discretionary Trust Deed

- Standard Discretionary Trust Deed (in triplicate);
- Trustee Company Resolutions (if applicable);

The Order will be processed within 1-2 working days and delivered via Australia Post unless otherwise advised.

If you do not hold a current Credit Account with Company Planners Pty Ltd, supply is subject to pre-payment. Please contact us for payment options

Disclaimer
Company Planners Pty. Ltd. ("CPPL") does not provide legal or other professional advice and our services, constitutions, deeds and stutory documents are not offered as a substitute for professional services and advice from a qualified legal, IP expert, accountant or other professional person. You must satisfy yourself when determining how the law applies to you or your client's circumstances. We confirm we have not been requested to advise you in relation to this trust deed including but not limited to the appropriateness of the parties thereto, the deed, ownership rights to a company name or any legal or taxation consequences that may arise as a consequence of the creation of the trust or supply of documents, nor have we provided such advice. No person on behalf of CPPL has any authority to make any representations or give any professional advice whatsoever. CPPL will not be liable for the consequences of any action or activity undertaken, or expense incurred by a party seeking to rely upon this service. Any claim for damages will be strictly limited to our re providing the services we have contracted to provide. ©2005 All rights reserved.