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Family Trust Deed (Discretionary Trust Deed) Fast Track Instruction Form Instructions are only accepted if this form is completed by your Accountant, Adviser or Lawyer with FULL PAYMENT.
Instructions are only accepted if this form is completed by your Accountant, Adviser or Lawyer with FULL PAYMENT.
Adviser’s Name: Adviser’s Firm: Firm’s Address: Adviser’s Work #: Adviser’s Fax #: Adviser’s E-mail: In our view, only the above persons can adequately explain the uses and abuses of Family Trusts. Please feel free to read the Brett Davies Lawyers Manual on Family Trusts. Lawyers, Accountants and Advisers are welcome to ring the Family Trust Help line for completing this form. 1. Who controls the Trust? - The Appointor Appointor(s) Full Name Residential Address The Appointor (guardian) controls the Trustee and therefore controls the trust. The Appointor can sack the Trustee. The Appointor can also be the Trustee. You can appoint yourself and your spouse as the Appointor. 2. Who is the figure head? - The Trustee Trustee(s) Full Name Trustee Address Only if a company is your Trustee Type in "ACN ####" The Trustee is the figure head of the Trust but takes its orders from the Appointor. The Trust assets are usually in the name of the Trustee. The Trustee can be a company or a person. You can be both the Trustee and Appointor. 3. What happens after the Appointor(s) dies? The Appointor (after the first Appointor(s) dies) While you may control the Trust Assets you do not own them. Because the assets don’t form part of your personal estate, it is important to work out who gets to control your Trust after you (and your spouse) die. Often, Mum and Dad are the Appointor and then the children. (If your clients are having more children, just put "My Children"). 4. Who gets the income of the trust if you do nothing? Specified Beneficiaries If you fail to make a distribution of income, you need to have some default person(s) to take the income. Usually, clients appoint their children. 5. What do you want to call your Family Trust? The TrustYou can call the Trust anything you like. Many people call the trust after their own surname. eg The Smith Family Trust
In our view, only the above persons can adequately explain the uses and abuses of Family Trusts. Please feel free to read the Brett Davies Lawyers Manual on Family Trusts. Lawyers, Accountants and Advisers are welcome to ring the Family Trust Help line for completing this form.
The Trustee is the figure head of the Trust but takes its orders from the Appointor. The Trust assets are usually in the name of the Trustee. The Trustee can be a company or a person. You can be both the Trustee and Appointor.
While you may control the Trust Assets you do not own them. Because the assets don’t form part of your personal estate, it is important to work out who gets to control your Trust after you (and your spouse) die. Often, Mum and Dad are the Appointor and then the children. (If your clients are having more children, just put "My Children").
Specified Beneficiaries
If you fail to make a distribution of income, you need to have some default person(s) to take the income. Usually, clients appoint their children.
The Trust
You can call the Trust anything you like. Many people call the trust after their own surname. eg The Smith Family Trust
A manual on Family Trusts is available from the www.TaxLawyers.com.au web site, follow this link...
