Trust establishment

Overview

NowInfinity offers a full suite of Trust documents in its Documentation Suite including documents to establish:

  • Discretionary Trusts - including the ability the set up a trust where the lineal descendent is either capital or fully reserved (currently not available in Smartcorp)
  • Fixed Unit Trust
  • NSW Land Tax Unit Trust

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These documents are also available from the Create Documents page and have been drafted by lawyers at Mosaic Tax Legal. The trust deed and associated establishment documents are regularly reviewed and updated as applicable legislative changes occur. Please contact us if you would like to review a sample Trust Establishment documents.

Additional NowInfinity Trust Establishment features we think you will love 

  • Ability to pre-fill information (e.g. individual names/addresses) using an available integration with practice management systems (e.g. Xero Practice Manager/Greatsoft) or information that was previously entered into NowInfinity.
  • Option to open a bank account and online trading account with Macquarie at the time of establishing the Trust.
  • Option to set up an ABN/TFN.
  • Ability to create Trust Distribution minutes for Discretionary Trusts and send for electronic signing.
  • Users on a subscription package have the additional feature to add the Trust to the Trust Register (Beta). The Trust Register allows you to manage all your Trusts in a single platform - automating documentation needs to meet Trust obligations including maintaining unit register for Unit Trusts and streamlining end of year processes around Trust Distribution minutes for Discretionary Trusts.
  • Option to request documents to be reviewed by a lawyer via Legal Review process Client Legal Review.

Any other differences I should be aware of?

NowInfinity currently doesn’t provide the same Hardcopy and Slimline print options that you are familiar with in Smartcorp when ordering Trust documents online. We expect to make the same print options available to you in the near future.

Deed stamping services available in Smartcorp for NSW and VIC jurisdictions is also currently not available in NowInfinity. Our teams are currently working to make Deed Stamping available for Trusts established in NSW and VIC. 

Useful Link

NowInfinity Legal Providers

NowInfinity has two legal providers, Barrister Dennis Barlin of 13 Wentworth Chambers and Solicitor James Meli, Partner at Mosaic Tax Legal.

Mr Barlin is responsible for providing and maintaining a variety of legal templates. Mr Meli from Mosaic Tax Legal is responsible for providing and maintaining a variety of legal templates as well as being available for referrals for day to day legal coverage and legal support for our clients.

Legal provider bios

Denis Barlin

Mr Barlin has extensive experience practicing in the areas of Commercial Law, Corporations Law, Equity & Trusts, Superannuation and Tax & Revenue Law. Mr Barlin is also a Certified Practising Accountant (CPA) and widely published. Previously, Mr Barlin was Solicitor Director at SBN Lawyers, Partner at Cosoff Cudmore Knox, Solicitor at Corrs Chambers Westgarth, and Tax Consultant at Greenwoods & Freehills.

https://www.13wentworth.com.au/barrister/denis-barlin/

https://www.linkedin.com/in/denis-barlin-1772379

James Meli

Mr Meli is the founding partner of Mosaic Tax Legal. Previously, Mr Meli was the practice leader of LegalVision’s tax team. Mr Meli has also worked in a variety of tax roles in private legal practices, accounting firms and at the Australian Taxation Office.

Mr Meli regularly publishes in both online and print journals and presents at industry CPD seminars.

www.mosaictaxlegal.com.au

https://www.linkedin.com/in/jamesmeli

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