You can choose any name for your Discretionary Trust, however, most trusts are called "Your Surname" Family Trust (eg Brown Family Trust ).
You can pick today's date or any date as trust establishment date.
Please choose the state where the trust deed will be executed. The state chosen should be where you usually reside. Our instructions sheet (emailed to you after payment) will advise you details of Stamp Duty payable and address of the relevant Office of State Revenue.
You should note that significantly higher stamp duty and/or land tax may apply if any of the beneficiaries of your trust are foreign persons. Your answer to this question, will determine the clause 24 included in the trust deed.
The trustee is responsible for the trust and its assets. You can either have a company or individual(s) as trustees of your discretionary trust.
We cannot advice, if company or individual(s) trustee(s) are more suitable to your discretionary trust, as we do not know your circumstances. However click for more information.
If your trust structure has only one trustee and one beneficiary at the start of the trust, please take legal advice before proceeding.
On our system you can either have 1 (one) company OR 10 individual trustees.
Most advisors would recommend, for asset protection, that a non-trading company is nominated as trustee of the trust and all/most family members are directors of Trustee Company controlling the trust. If you do not already own a company, nominating a trustee company would mean, that you have to incur extra expenditure in forming a new company.
