06 758 7101

Family Trust Review - Does your Trust need to be reviewed?

Nov 27, 2018

The simple answer is YES. Your Trust deed is a living document and it should be regularly reviewed and updated to reflect your current situation.

When was the last time you looked at the Trust deed? Do you even know where it is?

Trusts are often created and then not thought about from year to year. There was a reason you created your Trust. It may have been to:

  • Protect your assets from creditors
  • Protect your assets from relationship property or family claims
  • Preserve value for future generations
  • Protect family with illness or special needs
  • Estate Planning

 

It is important that the Trust is managed correctly to ensure that it still reflects your needs, that it is being administered properly and that you are meeting your legal obligations.

Our firm is here to help you get the best from your Trust. When we conduct a review we look at the following areas:

 

  • Is the Trust still relevant?
  • Does the Trust still meet the needs and objectives of the Trust?
  • Are there any changes required with respect to your current trustees or beneficiaries?
  • What assets are owned by the Trust?
  • The status of Gifting
  • Is there a Memorandum of Wishes and does it reflect your current wishes
  • Is your Will up to date
  • Do you have Enduring Powers of Attorney in place

 

If you wish to find out more about the Legal Solutions Trust Review service please contact Kathryn Price, Registered Legal Executive on 06 7587101 or [email protected]