Command a powerful blend of process and legal expertise to protect client wealth in the new world of trusts.

The risk of resettlement is extremely unlikely where:

1. a sufficient power is relied upon to make a change; and
2. beneficiaries, trust property and trust terms can be identified at any point in time.

Trust Evolve™ considers these matters to ensure that changes made in the Trust Evolve™ Amendment are undertaken in accordance with sufficient powers and don’t cause uncertainty as to beneficiaries, trust property and trust terms.  As always, if any issues are identified in this regard, we will reach out to clients to advise and discuss. Whilst resettlement is not something we can guarantee against (only the courts have that jurisdiction), our vast experience preparing trust deed amendments tells us that as long as the above matters are considered, it is unlikely.

Yes, Trust Evolve™ ordering is available on the Acis platform.  This can be done by selecting New Order on the Trust Evolve tile or by selecting New Order on the My Orders tile and then selecting Trust Evolve. Alternatively, simply click the link below to be directed straight to our Trust Evolve™ order page.

The Trust Evolve™ price is not just for the Report and the Amendment is not extra – it is included in the price.

Trust Evolve™ includes Expert Review – Report – Amendment – Distribution Guide.

Expert Review

Out team will review all of the deeds for a trust including the original trust deed establishing the trust as well as any previous amendments. Each of the matters outlined in the Trust Evolve™ Terms will be reviewed including, but not limited to, vesting date, foreign person exclusions, income definition flexibility and trustee and appointor mechanisms for succession.

Report

The Trust Evolve™ Report is based on the Expert Review. It outlines the matters reviewed and advises whether they are considered sufficient and remain unchanged or whether they can be improved and have been changed by way of the Trust Evolve™ Amendment.

Amendment

The Trust Evolve™ Amendment makes changes to the existing trust documents, based on the matters outlined in the Report. A Trustee resolution is also included.

Distribution Guide:

• Risk Assessment Checklist – to mitigate risks associated with trust distributions and identify when further enquiry/advice required.
• Distribution Commentary – to understand how recent tax rulings and judgements in relation to trust distributions impact the way trustees exercise their distribution discretions as well as the practical strategies they should consider.
• Distribution Templates – to assist in the effective distribution of trust Income.
• Template Beneficiary Letters – to correspond with beneficiaries in relation to their entitlements to further mitigate risk.

Information about Trust Evolve™ can be found above. This includes a downloadable template letter that can be used to engage trustees/clients.  It also includes a downloadable Why? Guide to help identify the benefits of Trust Evolve™ for those trustees/clients that require additional authority.

It is important to remember that advisors didn’t create these challenges; they are simply trying to deliver the strategies in response to the challenges.

The trust deed and distribution resolutions go hand in hand. Distribution resolutions are prone to failure when they aren’t prepared in accordance with the provisions of the trust deed. For this reason, trust deeds should be reviewed (and where necessary amended) prior to distribution resolutions being prepared. The Trust Evolve™ Distribution Resolutions are customised to each trust, post the trust deed review and amendment. As a result, the full value is only gained from this product when used as a comprehensive strategy rather than utilising only parts.

Defective execution of trust deeds is one of the most common issues that banks raise when dealing with discretionary trusts. Similarly, incomplete or incorrect names in trust deeds is another issue that banks commonly take issue with. Even recent Acis deeds should be reviewed in relation to these matters.

Additionally, there have been changes to foreign person exclusions and Australian Accounting Standards (in relation to the preparation of financials) in recent times.

Those matters aside, we appreciate that there is likely less involved in the Amendment component of Trust Evolve™ for trusts using recent, Acis deeds. If you have these, we encourage you to get in touch for a chat about pricing.

Trust Evolve™ responds to more than just issues in relation to s. 100A. And even if we limited the discussion to s. 100A alone, it should be remembered that the Commissioner has made their position clear (in TR 2022/4 & PCG 2022/2). We know tax planning likely needs to look different this year. We know that the ATO have made their position in relation to contemporaneous record keeping clear. There is arguably no reason to wait for further guidance.

As always, we are more than happy to have discussions in relation to volume and we encourage you to reach out for a chat if this relates to you.

Yes, the price includes Expert Review – Report – Amendment – Distribution Guide.

Expert Review

Out team will review all of the deeds for a trust including the original trust deed establishing the trust as well as any previous amendments. Each of the matters outlined in the Trust Evolve™ Terms will be reviewed including, but not limited to, vesting date, foreign person exclusions, income definition flexibility and trustee and appointor mechanisms for succession.

Report

The Trust Evolve™ Report is based on the Expert Review. It outlines the matters reviewed and advises whether they are considered sufficient and remain unchanged or whether they can be improved and have been changed by way of the Trust Evolve™ Amendment.

Amendment

The Trust Evolve™ Amendment makes changes to the existing trust documents, based on the matters outlined in the Report. A Trustee resolution is also included.

Distribution Guide:

• Risk Assessment Checklist – to mitigate risks associated with trust distributions and identify when further enquiry/advice required.
• Distribution Commentary – to understand how recent tax rulings and judgements in relation to trust distributions impact the way trustees exercise their distribution discretions as well as the practical strategies they should consider.
• Distribution Templates – to assist in the effective distribution of trust Income.
• Template Beneficiary Letters – to correspond with beneficiaries in relation to their entitlements to further mitigate risk.