Get $12K+ in partner offers when you set up a company, trust or ABN View Marketplace Offers

Family Trust

Learn what a Family Trust is, the tax benefits of setting up a Family Trust in Australia and more.

How do you remove a Beneficiary?

This depends entirely upon the wording of the Trust deed. Most Trust deeds provide that there are two ways of removing a Beneficiary:

  1. the Beneficiary by document in writing renounces his or her interest as a Beneficiary (a Renunciation may be mandatory if the change is made in conjunction with a Centrelink Declaration); or
  2. the Trustee makes a declaration that henceforth a particular Beneficiary will no longer be a Beneficiary. The Trustee should carefully study the Deed to make sure that the Trustee has that power. The Patricia Holdings Deed does give the Trustee the power to remove a Beneficiary. The Trustee should be very careful when removing a Beneficiary not to create a re-settlement.

Family Trust

Learn more Get started

Patricia Holdings Family Trust
Patricia Holdings need more help

Can't find what you're looking for?

Chat now with an expert using our online chat if we're online,
give us a call or leave us a message and we'll get back to you.

UA-1602518-1