Unit Trust Bundle
Suitable: NSW QLD VIC SA NT WA TAS
Unit Trust Bundle
Unit Trust Bundle includes the most popular Trust Deed available, as well as a Unit Holders Agreement and Now Deed of Variation.
- Unit Trusts (normally used in business situations)
- Unit Holder Agreement
- Deed of Variation (new to bundle)
Where a Unit Trust is used, it is normally accompanied by a Unit Holder’s Agreement. A Unit Holder’s Agreement is an agreement between owners of units in a Unit Trust about what to do when a unit holder dies, wants to sell their units, and contains agreements about how to run the Trust and the underlying business.
Trust Deeds are legal documents that sets out the rules for establishing and operating your fund. It includes such things as the fund’s objectives, who can be a member and whether benefits can be paid as a lump sum or income stream. The trust deed and super laws together form the fund’s governing rules.
A deed of variation of unit trust can be used to amend a Unit Trust deed.
Each Trust Deed download comes with notes explaining how trusts can be created, and shows you how to create them. Stamp duty and any other tax implications are explained. The notes cover the two most popular types of trusts in detail: Discretionary Trusts and Unit Trusts. The role of Trustee, Settlor and Appointor is explained, and best practices are suggested. The following precedents allow you to create Trusts.
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Most trusts are created for clients by the execution of a deed of trust by the trustee, the deed setting out the express terms of the trust, and by the “settlement” on the trustee of a nominal sum, say $10, by the “settlor”, who is also a party to the deed. It is common practice for a trust to be established by the settlement of a nominal sum, say $10, with the trustee on the creation of the trust while the other assets of the trust are transferred later by way of purchase, with the necessary funds being loaned to the trust for the purpose. The reason it is done this way is to minimise (stamp) Duty.
The flexibility of a unit trust often results in its choice as the preferred structure for many commercial ventures where the units are generally held by the trustee of each investor’s family discretionary trust.
A unit trust created by the precedent is created by a deed between a trustee and the “initial unit holder” who contributes an amount of money which establishes the trust and creates units held by the initial unit holder. Thereafter, units can be issued to the other investors. There must be no more than 20 unit holders. Under s 601ED of the Corporations Act 2001 (Cth), the unit trust must be a registered managed investment scheme if there are more than 20 unit holders.
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