Updating Trust Deeds

Further to the article ‘Bank Crackdown on Trusts’ in our last newsletter, found here, the following scenarios can cause problems:

Trust Deeds that were drafted decades ago in the 20th century that are not designed to accommodate the changing legal standard of today or evolving family dynamics.

Poor drafting, forgotten vesting dates and ambiguous terms can create legal and financial headaches which may expose families to legal and financial risk and costly court intervention.

As such, it is important that your trust deed should be regularly and diligently reviewed to ensure that it still aligns with the original intent, meets current legal standards and accommodates the changing needs of the beneficiaries.

For further information or advice, please contact our office.