Change of Name of Family Trust

What is the purpose of this document?

You have a Family Trust (sometimes called a Discretionary Trust or Family Discretionary Trust), and wish to change the name of the Family Trust.

All:

• Trustee decisions with respect to the Family Trust should be documented by way of Trust Minutes (i.e. similar to minutes or circulated resolutions for directors of a company); and

• variations to the Family Trust deed must be documented by way of a Deed of Variation.

This document is a means of formally recording the decision to change the Family Trust Name and effecting the change in name.

Download the Change of Name of Family Trust Checklist

Sample is not available for this document.

Old Trust Name
• What needs to have occurred before I complete this document?
• What do I need to complete this document?
• What is the Trust's name? I can't find it.
• What about state duty on the Change of Trust Name?
Trust Amendments
• How do I know if the Trust has been amended before?
• Where do I find the date of any Deed of Amendment or Deed of Variation?
• What about state duty on the Change of Trust Name?
Trust Amendment Dates
• How do I know if the Trust has been amended before?
• Where do I find the date of any Deed of Amendment or Deed of Variation?
• What about state duty on the Change of Trust Name?
Trustee Name
• What is the Trustee's role?
• Is the Trustee human or a company?
• Can I insert a business name into the Party Details?
• What is an ACN?
Trustee Address
• What is the Trustee's role?
Controller Name
• Does the Trust Deed refer to a Controller (i.e. an Appointor or Guardian)?
• Controller Details
Controller Address
• Does the Trust Deed refer to a Controller (i.e. an Appointor or Guardian)?
New Trust Name
• What do I need to complete this document?
• What about state duty on the Change of Trust Name?
Meeting Details
• What do I need to complete this document?
Chairperson Details
• What is the role of the Chairperson?

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Old Trust Name

• What needs to have occurred before I complete this document?

  The Trustee(s) should have resolved to change the Trust’s name pursuant to Trust Minutes. This Deed of Variation contains Trust Minutes to ensure this requirement is satisfied.

  This hint is provided by Law Central Legal.

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• What do I need to complete this document?

  To start with you need to have your original Trust Deed to obtain the answers to these questions:
  
  1. What is the old name of the Trust?
  2. Who is the Trustee(s) of the Trust?
  3. Who is the Controller (i.e. the Appointor or Guardian) of the Trust?
  4. When was the Trust Deed signed? (i.e. what is the date of the Trust Deed?)
  5. Has the Trust Deed been amended? If so, on what dates?
  
  The answers to the above may also be in any Deed of Variation or Deed of Amendment (if any).
  
  The name of the Trust and the date the Trust Deed was signed is generally on the front of the Trust. If not, it may be on the last page where the signing clauses are.
  
  Generally in the first few pages, there is a definition section, so the names of the Trustee and the Controller should all be there.
  
  You will also require the new name of the Trust.
  

  This hint is provided by Law Central Legal.

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• What is the Trust's name? I can't find it.

  Every Trust has a name. The name may be on the cover page, front page or in the last few pages of the Trust Deed.
  
  The Trust name is often named after the person that asked for the Trust in the first place. For example, if the accountant set up a Trust for Mr Smith then the Trust may be called the "Smith Family Trust".
  

  This hint is provided by Law Central Legal.

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• What about state duty on the Change of Trust Name?
  1. The Commissioner of State Revenue/Tax in your State may require that the Deed of Variation (and all copies) be lodged after signing. However, most States do not require that the document be stamped. For example, there is no need to get this document stamped in Western Australia, Queensland, South Australia and the Australian Capital Territory.
     
     In all other States and Territories, Deeds of Variation must be lodged for stamping, and lodging fees may apply. Please refer to our Stamp Duty Kit for "Stamping a Family Trust (Discretionary Trust)".
     
     If they are lodged late then fines and penalties may be imposed.

  This hint is provided by Law Central Legal.

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Trust Amendments

• How do I know if the Trust has been amended before?

  Generally you will have another document that says eg: "Deed of Amendment to the Johnson Family Trust" or "Deed of Variation to the Johnson Family Trust". You need to note all amendments or variations that have been made to the Trust Deed. If you are not sure, you may need to seek legal advice.

  This hint is provided by Law Central Legal.

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• Where do I find the date of any Deed of Amendment or Deed of Variation?

  The date of the Deed of Amendment or Deed of Variation is generally on the front of the document. If not, it may be on the last page where the signing clauses are.

  This hint is provided by Law Central Legal.

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• What about state duty on the Change of Trust Name?
  1. The Commissioner of State Revenue/Tax in your State may require that the Deed of Variation (and all copies) be lodged after signing. However, most States do not require that the document be stamped. For example, there is no need to get this document stamped in Western Australia, Queensland, South Australia and the Australian Capital Territory.
     
     In all other States and Territories, Deeds of Variation must be lodged for stamping, and lodging fees may apply. Please refer to our Stamp Duty Kit for "Stamping a Family Trust (Discretionary Trust)".
     
     If they are lodged late then fines and penalties may be imposed.

  This hint is provided by Law Central Legal.

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Trust Amendment Dates

• How do I know if the Trust has been amended before?

  Generally you will have another document that says eg: "Deed of Amendment to the Johnson Family Trust" or "Deed of Variation to the Johnson Family Trust". You need to note all amendments or variations that have been made to the Trust Deed. If you are not sure, you may need to seek legal advice.

  This hint is provided by Law Central Legal.

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• Where do I find the date of any Deed of Amendment or Deed of Variation?

  The date of the Deed of Amendment or Deed of Variation is generally on the front of the document. If not, it may be on the last page where the signing clauses are.

  This hint is provided by Law Central Legal.

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• What about state duty on the Change of Trust Name?
  1. The Commissioner of State Revenue/Tax in your State may require that the Deed of Variation (and all copies) be lodged after signing. However, most States do not require that the document be stamped. For example, there is no need to get this document stamped in Western Australia, Queensland, South Australia and the Australian Capital Territory.
     
     In all other States and Territories, Deeds of Variation must be lodged for stamping, and lodging fees may apply. Please refer to our Stamp Duty Kit for "Stamping a Family Trust (Discretionary Trust)".
     
     If they are lodged late then fines and penalties may be imposed.

  This hint is provided by Law Central Legal.

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Trustee Name

• What is the Trustee's role?

  The Trustee holds the trust assets in its own name, but only as Trustee (i.e. the Trustee only holds these assets as mere legal owner and not as beneficial owner). The Trustee holds these assets for the benefit of the beneficiaries.
  
  The Trustee also deals with the day-to-day running of the Trust for the benefit of the beneficiaries. The Trustee consults with the Controller (i.e. Appointor or Guardian) concerning the distributions to the beneficiaries each year.
  

  This hint is provided by Law Central Legal.

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• Is the Trustee human or a company?

  You can have a Human Trustee or a Company Trustee, or you can have both at the same time.
  
  If the Trustee is Human: insert the Trustee’s first name into the First Name field, the Trustee’s middle name into the Middle Name field and the Trustee’s surname into the Surname field.
  If the Trustee is a Company: insert the name of the Company into the Company Name field.
  Insert the ACN (Australian Company Number) into the ACN field.

  This hint is provided by Law Central Legal.

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• Can I insert a business name into the Party Details?

  No. Only legal entities such as a human or a company can enter into an agreement.
  Eg: Olympus Pty Ltd trading as Olympus Seafood. "Olympus Seafood" is a business name, whilst "Olympus Pty Ltd" is the legal entity capable of entering into contracts.
  

  This hint is provided by Law Central Legal.

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• What is an ACN?

  Under the Corporations Act 2001, every company in Australia has been issued with a unique nine-digit number known as an Australian Company Number (ACN), which must be shown on a range of documents. The purpose of the ACN is to ensure adequate identification of companies when transacting business. New companies are issued with numbers by the Australian Securities & Investments Commission (ASIC) upon registration.
  
  A company's ACN should appear on all of its "public documents" and "eligible negotiable instruments," including but not limited to the following:

  • all documents required to be lodged with ASIC;
  • statements of account, including invoices;
  • receipts (which are not machine-produced);
  • orders for goods and services;
  • business letterheads;
  • official company notices;
  • cheques, promissory notes and bills of exchange; and
  • written advertisements making a specific offer which is capable of being accepted (such as by the completion of an order form).

  This hint is provided by Law Central Legal.

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Trustee Address

• What is the Trustee's role?

  The Trustee holds the trust assets in its own name, but only as Trustee (i.e. the Trustee only holds these assets as mere legal owner and not as beneficial owner). The Trustee holds these assets for the benefit of the beneficiaries.
  
  The Trustee also deals with the day-to-day running of the Trust for the benefit of the beneficiaries. The Trustee consults with the Controller (i.e. Appointor or Guardian) concerning the distributions to the beneficiaries each year.
  

  This hint is provided by Law Central Legal.

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Controller Name

• Does the Trust Deed refer to a Controller (i.e. an Appointor or Guardian)?

  This is the person or entity named in the Trust Deed whose permission is required to vary the Trust Deed. The Controller is usually referred to as either an "Appointor" or a "Guardian"

  This hint is provided by Law Central Legal.

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• Controller Details

  The Controller is usually a human, and can be one or more of the Human Trustees (or one or more of the directors of a Company Trustee).
  
  Insert the Controller's first name into the First Name field, the Controller’s middle name into the Middle Name field and the Controller's surname into the Surname field.
  

  This hint is provided by Law Central Legal.

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Controller Address

• Does the Trust Deed refer to a Controller (i.e. an Appointor or Guardian)?

  This is the person or entity named in the Trust Deed whose permission is required to vary the Trust Deed. The Controller is usually referred to as either an "Appointor" or a "Guardian".

  This hint is provided by Law Central Legal.

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New Trust Name

• What do I need to complete this document?

  To start with you need to have your original Trust Deed to obtain the answers to these questions:
  
  1. What is the old name of the Trust?
  2. Who is the Trustee(s) of the Trust?
  3. Who is the Controller (i.e. Appointor or Guardian) of the Trust?
  4. When was the Trust Deed signed? (i.e. what is the date of the Trust Deed?)
  5. Has the Trust Deed been amended? If so, on what dates?
  
  The answers to the above may also be in any Deed of Variation or Deed of Amendment (if any).
  
  The name of the Trust and the date the Trust Deed was signed is generally on the front of the Trust. If not, it may be on the last page where the signing clauses are.
  
  Generally in the first few pages, there is a definition section, so the names of the Trustee and Controller should all be there.
  
  You will also require the new name of the Trust.
  

  This hint is provided by Law Central Legal.

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• What about state duty on the Change of Trust Name?
  1. The Commissioner of State Revenue/Tax in your State may require that the Deed of Variation (and all copies) be lodged after signing. However, most States do not require that the document be stamped. For example, there is no need to get this document stamped in Western Australia, Queensland, South Australia and the Australian Capital Territory.
     
     In all other States and Territories, Deeds of Variation must be lodged for stamping, and lodging fees may apply. Please refer to our Stamp Duty Kit for "Stamping a Family Trust (Discretionary Trust)".
     
     If they are lodged late then fines and penalties may be imposed.

  This hint is provided by Law Central Legal.

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Meeting Details

• What do I need to complete this document?

  To start with you need to have your original Trust Deed to obtain the answers to these questions:
  
  1. Who is the Trustee(s) of the Trust?
  2. Who is the Controller (i.e. Appointor or Guardian) of the Trust?
  3. What is the old name of the Trust?
  
  The name of the Trust and the date the Trust Deed was signed is generally on the front of the Trust. If not, it may be on the last page where the signing clauses are.
  
  Generally in the first few pages, there is a definition section, so the names of the Trustee(s) should be there.
  
  You will also require the new name of the Trust.
  

  This hint is provided by Law Central Legal.

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Chairperson Details

• What is the role of the Chairperson?

  The Chairperson's role is to make sure that each meeting is planned effectively, conducted according to the Trust Deed and that matters are dealt with in an orderly and efficient manner to promote proper decision-making.
  
  The Chairperson is normally one of the Human Trustees (or one of the directors of a Company Trustee). If there is more than one Human Trustee (or more than one director of a Company Trustee) then the Trustees should select one amongst them to act as the Chairperson.
  

  This hint is provided by Law Central Legal.

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This document has been prepared by Law Central Legal