How to edit the Trust Profile

Question

How do I edit the Trust Profile?

Answer

  1. Navigate to the main Menu and select 'Trust' under the Trust Register heading.2023-01-16_15h00_53.png
    2023-01-16_15h01_47.png

  2. Click on the name of the Trust and select "See Full Profile". The Trust profile contains all relevant information for that type of Trust.
  3. Select "Update Trust Details" to edit the profile:
    2023-01-16_15h02_58.png
  4. A pop up screen will appear and prompt you to input a reason for the amendment. Adding a message in this field is mandatory. You also have the option to attach any supporting documents.
  5. Click on "Continue" to edit the profile:
    mceclip5.jpg
  6. Use the "Edit" button to edit the section/s you would like to update. Once done, click "Save" in each section. The "Edit" button will be missing if the field is locked
    2023-01-16_15h04_10.png

    Note: 
    • For Unit Trusts :
      • Date of Entry should be the date the unit holder first became a unit holder
    • For Discretionary Trust: 
      • Settlor's address is an optional field
  7. To update Unit details, change the "View" dropdown box at the top right hand corner of the page to "Units":
    2023-01-16_15h06_36.png
  8. From here, choose to edit, add or remove items:
    2023-01-16_15h07_18.png
  9. When all changes are done to the profile, Select "Finish Update" to lock the profile again.

2023-01-16_15h08_55.png


Note: Any changes made to the profile will be saved on the Timeline, with details of what was changed, who changed the data and the date the change/s were made.

2023-01-16_15h09_51.png

It is strongly recommended to take care in making any edits as a Trust is a legal entity and certain changes can trigger adverse tax and stamp duty consequences.

 

Locked Fields

A field will lock and be unavailable to edit where a non-executed document has been generated that would impact that field. e.g. the Unitholder of a Fixed Unit Trust will lock if there is a Transfer of Units pending.
These can be identified as the Edit button will not displace and the boarder will change to orange.

mceclip1.png

Once the corresponding form has been deleted or finalised from the Recent Documents list on the Trust Profile, the corresponding field will unlock.

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request