Question
How can I vest a Discretionary or Unit Trust?
Answer
The "Deed of Vesting" document is used to legally end a Trust, and specify how the Trust's assets will be distributed to the beneficiaries.
The "Deed of Vesting" document is available under Menu > Trust Register > Trusts > Trust Profile for Discretionary and Fixed Unit Trusts.
If you are not using NowInfinity's Trust Register, access the "Deed of Vesting" document from the Create Document page - see below.
Note:
-Whilst there aren't any legislative restrictions to the number of beneficiaries that can be within the "Deed of Vesting" document, there is a limitation of 7 beneficiaries when the document is generated within NowInfinity. Should you require more than 7 beneficiaries to be reflected within the "Deed of Vesting" document, it is recommend to have this document drafted outside of NowInfinity to meet your requirements.
-If the SMSF is to be selected as a Unitholder via the Vesting of a Unit Trust document, this can be actioned by selecting it under the Trust type. This can be selected as the SMSF is a type of Trust.