Published March 17, 2016
I review a lot of trusts in my work. The starting point for me is always the trust deed.
Two things continually surprise me:
There’s a perception in some quarters that trust deeds are pretty much the same. I’ve found most trust deeds have little fish hooks or wrinkles that can easily trip up a trustee, particularly around decision making.
Here’s a few examples I’ve come across recently:
Trustees have decision making roles and those decisions have to be made according to the rules. To do otherwise can invalidate a decision and increase the potential risk for a trustee.
Five good practices I’d encourage around trust deeds are:
If you’re a trustee, it’s up to you to know the rules. You’ll find them in the trust deed.
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