Trust Deeds
Do you have your business held in Family Trust or Discretionary Trust? The ATO and most trust deeds, require a resolution distributing the income from the trust to its various beneficiaries to be made. If the resolutions are not passed, they cannot be made and back-dated. That amounts to fraud. Some deed have a default […]
Trust Deeds
We reviewed a couple of trust deeds recently for a new client. One deed was validly executed and was effective to change the trustee, but it also tried to appoint new guardians and appointors, but failed to do so. This is because the current appointor and guardian is appointed for life, and can only nominate […]