Will for a Trust?

[triple_j]

I just did my personal Will but am totally stumped on how to distribute and dispose assets held in a Trust for which I am the sole director.

Any advice or direction on how to do this will be very much appreciated.

Thanks!
Triple J

 

[The Y-man]

I just did my personal Will but am totally stumped on how to distribute and dispose assets held in a Trust for which I am the sole director.

Any advice or direction on how to do this will be very much appreciated.

Thanks!
Triple J

I assume you are the Director of the Corporate Trustee.
My (very limited) understanding is that you would basically allow for succession of the directorship. i.e. should you die or become incapacitated, xxxx will take on directorship. This is an "internal" matter to the trustee company, and not an issue of assetts changing ownership.

Cheers,

The Y-man

 

[triple_j]

Thanks Y-man.

I re-read the deed and noted that as the appointer and the director, I can re-appoint someone as my successor in the Will. The successor will have full powers and discretion.

I think that's the way to do it. But as soon as my accountant comes back from holidays, I'll confirm with him.

Cheers,
J

 

[Terry_w]

This is a legal question.

Trust assets do not belong to you and will not form part of your estate at death and cannot be dealt with by your will. You die but the trust will continue on so read the deed and find out how to appoint successor appointors - usually by deed.