Friday, November 25, 2011

New to Cleardocs: Change of Trustee Discretionary Trust

Belinda Thalakada, Customer Support

Last week, Cleardocs launched its newest document package; Change of Trustee for Discretionary Trusts. 
For many of our customers, this document package will reduce the difficulty, effort and cost for changing the trustee of a discretionary trust without the risk of resettlement.

Previously, if a customer had set up a Discretionary Trust using the Cleardocs documents, and later wished to change the trustee of the trust, then we would refer them to our lawyers at Maddocks for legal advice regarding:
  • the legal process for changing the trustee of the trust; 
  • the risk of resettling the trust and the corresponding tax implications; and
  • the cost for Maddocks to draft a deed of variation affecting the change to trustee.

Now with this new document package, Discretionary Trusts with a Cleardocs deed can change their trustee(s) online.

Below is the email we sent our customer to launch this new document package.

New: Change of Trustee - Discretionary (Family) Trust

Cleardocs now offers a Change of Trustee document package for Discretionary (Family) Trusts that have a Cleardocs deed. The package costs $137.50.

The document package covers the following changes:
  • from company to company;
  • from company to one or more individuals;
  • from individual(s) to company; and
  • from individual(s) to individual(s).
The changes can be made by:
  • The trustee(s);
  • one to 3 appointors – if the trust has appointor(s)
  • the first named beneficiary if the trust does not have a trustee or an appointor.
As always, our master documents are signed-off by our lawyers at Maddocks.

What's included in the Change of Trustee for a Cleardocs Discretionary (Family) Trust?
The Change of Trustee for a Discretionary (Family) Trust package includes all of the documents required to record the changes being made – namely:
  • Trustee consent forms
  • Trustee minutes/resolutions
  • Appointor minutes/resolutions
  • First named beneficiary minutes/resolutions
  • Change of Trustee Deed
  • Establishment Kit telling you what to do next.
How do you order a Change of Trustee for a Discretionary (Family) Trust?

You can order the package online at Cleardocs. To find out more on how to order, click here.

Changing to a corporate trustee?

If you are changing the trustee to a corporate trustee and you don't yet have a company, then you can register a company with Cleardocs for $563.50.

The registration is completely online and can be completed in about 20 minutes, click here to find out more.

Any questions?

If you have any questions:
  • about how to use Cleardocs, contact the Cleardocs helpdesk on 1300 307 343
  • about legal issues, contact the Cleardocs helpdesk on 1300 307 343. If you need advice, we will arrange for you to speak to a lawyer at Maddocks. The firm provides a free legal helpline in relation to the documents Cleardocs provides. If you require other legal advice in relation to your particular circumstances, then this will be charged for.

Best Regards
The Cleardocs Team

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