Order, Discretionary trust deed, Kallan Lawyers

Trust basics

Core terms of the trust.

Proposed trust name *

State of trust *affects stamp duty and vesting law

Settlor

Important — the settlor must NOT be related to the trust. The settlor cannot be a beneficiary, a trustee, an appointor, a director or shareholder of the trustee company, or a family member of any of those. If a related person settles the trust, the ATO can disregard the trust under section 102 of the Income Tax Assessment Act 1936 and tax the income at the settlor's marginal rate.

Typical choices: the family accountant, the family lawyer, a friend of the family, or an unrelated colleague. They sign a one-page acknowledgment, hand over $10, and have no further role.

Settlor full name *

Settlement sum *

Settlor address *

Vesting

Vesting period *

Trust establishment date leave blank if to be set on signing

Foreign person exclusion

In some states (notably Victoria and NSW), a deed that does not exclude foreign persons can attract foreign duty surcharges and land tax surcharges. We strongly recommend the exclusion is included by default.

Exclude foreign persons from the beneficiary class (recommended). Untick only if foreign beneficiaries are deliberately required.

Trustee

Who will hold the trust property and make distributions.

Trustee type *

Individual trustee(s) Corporate trustee

Note, individual trustees must be 18 or over and of full legal capacity. We strongly recommend a corporate trustee for asset protection and succession reasons.

Does the corporate trustee already exist? *

Yes, it already exists No, set up a new company

Existing corporate trustee details

Enter the details of the existing Pty Ltd company that will act as trustee.

Company name *

ACN *

Registered office address *

New corporate trustee company

Details for the new Pty Ltd company that will act as trustee. We'll register the company with ASIC as part of the same order. Add $825 inc. GST to the fee for the company set-up.

Proposed company name *e.g. "Smith Family Pty Ltd"

State of registration *

Registered office address *

Directors of the trustee company

For each director, also tell us if they're a beneficiary of the trust and whether they are also an appointor. This avoids re-entering names later.

Director ID required. All directors must apply for a Director ID before being appointed at abrs.gov.au.

Shareholders of the trustee company

Typically the same person or people as the directors, holding 1 ordinary share each. Per ASIC Form 201 we also need the share class, paid amount, and whether shares are fully paid and held beneficially.

Appointor(s)

The person or people with the power to remove and replace the trustee. The most powerful role in the trust.

From your director ticks above,

Add another appointor not listed above

Joint or several? When there are two or more appointors, they generally act together. Use special requests to specify if you want the appointor power exercised severally, by majority, or with priority signatories.

Beneficiaries

Who can receive distributions of trust income or capital. Two tiers, primary and secondary.

From your director ticks above,

Primary beneficiaries

The named people who are intended to be the main recipients of distributions.

Secondary beneficiaries

People or entities who can also receive, but typically only when distributions are not directed to primary beneficiaries.

Beneficiary class definition. Our standard deed automatically extends the beneficiary class to include the children, grandchildren, spouses, and other family members of the named beneficiaries above. If you want a different definition, describe it in special requests.

Consents and execution

Each settlor, trustee, appointor, and (for corporate trustee) every director and shareholder needs to give written consent or sign.

Have you obtained signed written consents from each person? *

Yes, already on file No, issue blanks with the pack

Required consents for this matter

Required consents will appear once you've completed the trust and trustee sections.

Acknowledgments

Before you submit, please confirm each of the following. All five ticks are required.

No advice given. I acknowledge and accept that Kallan Lawyers has not provided, is not providing, and will not be taken to have provided, any legal, taxation, accounting, financial, or commercial advice in connection with this order. This includes any advice as to the appropriateness, suitability, structure, tax consequences, or implications of the documents, the parties, or the transaction. I have not relied, and will not rely, on Kallan Lawyers for such advice. General-purpose documents. I understand and accept that the documents will be prepared as general-purpose documents based solely on the information entered in this form, without consideration of the client's specific circumstances, objectives, or needs. The documents are not customised to specific facts beyond what has been entered above, and Kallan Lawyers gives no warranty (express or implied) that the documents are fit for any particular purpose. Independent advice obtained. I confirm that the client has obtained, or has been clearly advised in writing to obtain, independent legal, tax, accounting and financial advice before signing or acting on any of these documents. I undertake to recommend that the client do so prior to execution, and I accept that this order proceeds on that basis. Authority and accuracy. I warrant that I am authorised to provide these instructions on behalf of all relevant parties, and that all information provided is true, complete, and accurate to the best of my knowledge. I acknowledge and accept that Kallan Lawyers will rely entirely on the information provided without independent verification, and that any error, omission, or misstatement is at the risk of the client. Limitation of liability. I agree that Kallan Lawyers' total aggregate liability arising from or in connection with this order, however caused, is limited to the fee paid for the document pack. To the maximum extent permitted by law, Kallan Lawyers excludes all liability for consequential, indirect, special, or third-party loss, including loss of profit, loss of opportunity, or tax consequences, arising from the use, structure, or implications of the documents.

0 of 5 confirmed

Discretionary trust deed.

Trust basics

Settlor

Vesting

Foreign person exclusion

Trustee

Existing corporate trustee details

New corporate trustee company

Directors of the trustee company

Shareholders of the trustee company

Appointor(s)

Add another appointor not listed above

Beneficiaries

Primary beneficiaries

Secondary beneficiaries

Special requests, anything outside standard scope?

Upload supporting documents

Consents and execution

Required consents for this matter

Your details

Acknowledgments

Review before submitting.

Order received.

What happens next

Discretionary trust deed.

Trust basics

Settlor

Vesting

Foreign person exclusion

Trustee

Existing corporate trustee details

New corporate trustee company

Directors of the trustee company

Shareholders of the trustee company

Appointor(s)

Add another appointor not listed above

Beneficiaries

Primary beneficiaries

Secondary beneficiaries

Special requests, anything outside standard scope?

Upload supporting documents

Consents and execution

Required consents for this matter

Need consent forms now?

Your details

Acknowledgments

Review before submitting.

Order received.

What happens next