Question
How can I amend/change a Trust's Beneficiaries? (e.g. remove a named/designated Beneficiary, specifically exclude an individual as a Beneficiary, add a new Beneficiary etc.)
Answer
The following applies if you are seeking to amend an established Trust Deed's Beneficiaries.
For any amendments to a Trust Deed's Beneficiaries, we can refer you across to our legal services provider where a solicitor can assist on a fee-for-service basis. These sorts of amendments require careful consideration of the deed and circumstances, hence why there is not a service to achieve this on the NowInfinity platform.
To be referred for a quote on the service, email legal@nowinfinity.com.au
Alternatively, if you are wanting to include certain special provisions relating to a new Trust Deed's Beneficiaries (i.e. the Trust has not yet been established) you can request this by adding on legal review to your Discretionary Trust Deed order. Examples include if you wish to specifically and irrevocably exclude a named individual from ever benefiting under the Trust (as the individual could otherwise be included in the "pool" of general/secondary Beneficiaries by virtue of their relationship with a named/designated Beneficiary or other Beneficiaries), or you wish to limit the Beneficiary pool in some way.
If the legal review add-on option is not available for you on the "legal review" tab of the document form (i.e. you are unable to select a legal review "tier") then it will need to be enabled onto your account. To request this, reach out to our support team via chat, phone or email (Support for NowInfinity).
Further Information
A Quick Guide to "Beneficiaries"