We have been approached by a few clients to rectify and update trust deeds to add missing names of the trustees and beneficiaries of their Trusts.

Banks are getting strict in their review of their customers’ trust deeds, particularly when it comes to matching the names of the parties mentioned in the trust deed with their identity documents such as a driver’s licence or birth certificate.

If the Trust Deed has already been established with incorrect or incomplete names, or there are other more complex circumstances such as adding or removing beneficiaries, changing trustees or rectifying other errors in the trust deed, it is best to have a solicitor review your client’s trust deed and draft a customised document.

Seed legal has experience in drafting amendments to trust deeds, including:

• Adding and excluding beneficiaries;
• Changing trustees;
• Amending trustees powers;
• Extending vesting date;
• Contingent vesting deeds;
• Exclusion of foreign persons as beneficiaries;
• Unitholder agreements;
• NSW land tax amendments for discretionary trusts and unit trusts;
• Testamentary Trusts; and
• Trust acknowledgements and business structures.

We provide the trust update services on a fixed fee basis with quick turnaround times.

To obtain an costs estimate to update your trust deed, please contact Seed Legal at legal.info@seedlegal.com.au or call 0413502191.