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  • Dino Montepara

Disclosure about trust assets to beneficiaries

Trustees now have a clear obligation to tell beneficiaries about the assets and investments contained within a trust. A further issue is the extent to which many trust deeds provide for not just the children of the settlor but more remote categories such as charities and the de facto partners of the settlors’ children. These provisions were intended to ensure that there was a broad range of people or organisations who could benefit from the trust. Usually, however, those beneficiaries beyond close family will be oblivious to their mention in a trust deed. Against this, most modern trust deeds try and make sure that the only beneficiaries are the settlors’ children and grandchildren.

For this reason, it is often necessary to get legal advice about whether your trust deed is fit for purpose under the new act. That advice can include taking the necessary steps to confine the beneficiaries of the trust to children and grandchildren and removing the more remote beneficiaries before they become entitled to such information. For further advice and assistance with your trusts feel free to contact Kemp Barristers & Solicitors at or 412-6000.



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