Key Words: Change Trustee, Unit Trust, change of trustee of unit trust
The "Change of Trustee of Unit Trust" document allows the user to appoint, remove or change the Trustee of a Unit Trust.
Navigate to the Trust Profile > Trustee & Appointer > Select the "Change of Trustee" form
If you are not using NowInfinity's Trust Register, access the "Change of Trustee of Unit Trust" document from the Create Document page - see below.
Ensure that you understand the following warning or seek legal/ professional advice.
- The Change of Trustee document is not a "Deed of Variation", it is an ancillary document that accompanies the original Trust Deed as proof of the amendment / change in trustee/s.
- This Deed of Change of Trustee takes the approach of retiring or removing all existing Trustees (including those who intend to continue as Trustee) and then "re-appointing" continuing trustees alongside any new Trustees.
- If you are not 100% confident or comfortable in completing this form, you should add on legal review.
- The form is restricted where there is multiple trustees, either existing or continuing, and includes a corporate trustee. If your circumstances require this, enter as may trustees as you are able and add on a legal review.
- As it is not advisable to have two corporate trustees, our form does not support this.
Appointment and Resignation clauses
To find the relevant appointment and resignation clause, you will need to refer to the most current Trust Deed of the Trust to determine the clause number for the clause that provides the power to appoint or resign Trustees. Prior to making decisions, such as changing the Trustee of a Trust, it is critical to carefully consider the establishing deed, as well as any subsequent deeds or instruments having an effect on the trust.
If you are not 100% confident or you are not engaging your own solicitor, you should add on legal review to your order.
Who has the power to appoint a new trustee?
The Deed will address who has the power to appoint a new trustee.
If you are unsure of who the appointing party, it is recommended to seek legal advice. Alternatively, you should add on legal review to your order.
If "other" is chosen, an additional page will be added to the form which you will need to complete with the details of the "appointing party".
Existing and New Trustee Details
Important: This Deed of Change of Trustee takes the approach of retiring or removing all existing trustees (including any that intend to continue as trustee) and then appointing new trustees (again, including any wishing to continue), for reasons outlined here.
Enter in the details for all Trustees of the Trust in the 'Existing Trustee Details' tab, regardless of whether they are continuing or not as Trustees. For each existing Trustee, you will need to select whether they are continuing, or if they are exiting the Trust:
If "Continuing as a Trustee" is selected, the Trustee's details will be pre-filled on the "New Trustee" page, these details should not be overridden or removed.
From this page, you can then add details for any new Trustees:
Once completed, and the documents have been signed by the client (and you have marked the document as signed if wet signed), the new trustee changes will be updated on the Trust Profile (if it is a Fixed Unit Trust):
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