Home – New Forums Money matters Discretionary Trust – removal of Trustee Reply To: Discretionary Trust – removal of Trustee

#1215922
akagrp
Member
  • Total posts: 315
Up
0
::

Hello

Most Trust Deeds allow for the removal and appointment of the Trustee, but any such action should not be undertaken without first speaking to a lawyer that specialises in trusts, as in many states a change to Trustee requires a legal document to be executed and can also have stamp duty implications, and some in NSW most deeds include a clause that the departing Trustee can no longer be a beneficiary , so important to undertake care.

Is the trustee a corporate trustee or individual?