Discretionary Trust - deed of variation (excluding foreign persons)
Use Cleardocs to create a deed of variation to a discretionary trust to prevent distributions to ‘foreign persons’. Upon signing the deed of variation and the minutes, you will be excluding any person, (other than a named beneficiary) who is or who at any relevant time is, a ‘foreign person’, from receiving distributions of income and/or capital from the trust.
If your discretionary trust already contains a named beneficiary who is a ‘foreign person’, this product cannot assist you to prohibit distributions to that person.
There are important matters to be considered before using this product. You must obtain legal advice and will need to ensure that you have read and understood the related FALQs.
Cleardocs also has these trust set up packages available:
- Discretionary Trust – excluded beneficiaries that excludes foreign and/or non blood beneficiaries
- Discretionary Trust - bucket company
- Family Trust Trustee bundle — a comprehensive and seamless workflow solution for a discretionary (family) trust set up with a corporate trustee
Time taken to complete 30 minutes.
Cost $ 244.75 (inc GST)
Legal Sign-offThe master documents are written in plain language and are signed-off by our lawyers at Maddocks.
What documents are included in the Cleardocs package?
The Cleardocs package includes:
- the deed of variation to discretionary trust deed;
- related minutes of the trustee(s); and
- an Establishment Kit explaining what to do next.
Cleardocs deed not required
You can use this product even if your existing discretionary trust does not have a Cleardocs deed.
Seek legal advice
The Discretionary Trust – deed of variation (excluding foreign persons) information set out here should be considered general in nature, and in no way interpreted as legal advice. You must always seek your own independent legal, accounting and financial advice about your particular situation. The summary on this page is for information purposes only.
Questions or further information
If you have questions:
- about how to use Cleardocs, contact the Cleardocs helpline on 1300 307 343.
- about legal issues, contact the Cleardocs helpline on 1300 307 343. If you need advice, we will arrange for you to speak with 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.
- The trust does not require an underlying Cleardocs deed
- Pre-population of trust details from earlier Cleardocs orders - saving you typing
- Easy to use question interface
- Extensive online help and local phone support