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Legal > Asset Protection & Trusts Law

Amending Trust Deeds:

Overview FAQs Articles Locations

Trust deeds may need to be amended so as to sit parallel or at the least not inconsistent with perpetually evolving legislation, where an inadequacy is discovered in the terms of the trust or where the parties agree on a change to beneficial interests. Generally, trust deeds may be amended in accordance with the terms of the trust deed (if any) or by application to the Court. Many Asset Protection Lawyers or Trust Lawyers include express clauses in trust deeds that facilitate a variation to the terms of the trust in certain circumstances. Alternatively, Courts have an inherent power as well as statutorily conferred powers to modify the terms of trust deeds. However, these powers are very strictly limited.

Certain variations to trust deeds may be considered recreations of the trust. A recreation of a trust can trigger, amongst other things, tax consequences for state revenue purposes. This underscores the importance of having a trust deed correctly and accurately drawn up by a Trust Lawyer at the first instance. Amongst other things, a trust deed should comprehensively address the process and circumstances under which an amendment or variation to the trust deed can be properly effected, so as to avoid, to the extent possible, acrimony and unnecessary expenses in remediating inadequacies and flaws.

Our Trust Lawyers and Asset Protection Solicitors are highly experienced in drafting, establishing and implementing trust deeds. Our Lawyers have assisted a variety of individuals, families and legal entities in taking advantage of trust structures for asset protection, legal tax minimisation and commercial purposes. We have exceptional experience on both a theoretical and practical level, when it comes to trust vehicles.

Contact our office to speak to a Trust Lawyer or Asset Protection Solicitor. We have branch offices conveniently positioned across the Sydney metropolitan area. For a full list of our office locations, with complete addresses, click on our Locations tab above or contact our main office line on (02) 9233 4048.

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This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.

  • Asset Protection Jan 23, 2012
  • Trusts Jan 23, 2012
  • Should I set up a trust? Jan 23, 2012
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