You said above you think the trustee is a company. In that case the director(s) of the company is the one who does it.

One solicitor I heard of did the conveyancing and got the GST wrong on a $2mil property. Client had to pay an extra $200,000 or so unexpectedly and so had to sue the solicitor.

The conveyancer is only getting $990. The rest are fees.I am a solicitor and wouldn't do any conveyancing for this price as it is very high risk for little rewards.

Banks will usually give a discount for prepaying interest. Usually a massive 0.10%! So it is sort of factored in. But you also have to consider the opportunity cost of not having that money immediately.Make sure you don't just plonk 12 months worth of repayments into the loan. You need to organise a special 1 year fixed loan with the bank.…[Read more]

Only the trustee can change the deed. But this depends on the wording of the deed.If you get it wrong the costs could be enormous.

Firstly I would look up s 60 of that act. What state is the property in?

I just received an email from http://www.lawcentral.com.au. If you join up with them, free, you can go through the motions of preparing documents with tips given on the way. Update for Bamford Do you need to change the Trustee of your Family Trust? Do you need to change the Appointor or the Backup Appointor? Use this Family Trust – Update Rules,…[Read more]

Executor is usually the personal representative of the testator in someone's will.I haven't heard about an appointor role being called an executor, but it is possible.

It doesn't have to be your accountant. It happens with some families such as brothers and sisters. There is one case with a dad and a SMSF. Dad died and the daughter was also a part of the fund. She distributed all the fund to herself and none to her brother as per instructions in the Dad's will. Because super doesn't form part of the will and the…[Read more]

PPSSThey could also have the deed amended so as to make themselves beneficiaries – this may mean stamp duty and CGT would be payable on the whole estate, but this may be small considering the overall benefits to be gained.

Ps the only thing to prevent Bart's wife from doing that above is if she or Bart were not beneficiaries. But they could get around this by distributing to a company set up so as to be a beneficiary.

Lets use your grandfather as an example. I am only guessing here too.Trustee is XYZ Pty Ltd with GF as director and 2 shares held by GF and GM. The trust is set up so that Bart Simpson is the Appointor. Bart is the friend and accountant of GF and GM.GF and GM die. They leave the shares of the trustee company XYZ Pty Ltd to you Stephen. You think…[Read more]

The appointor doesn't direct the trustee. They just appoint the trustee. it is up to the trustee to make their own decisions. A director directs the trustee indirectly if their company is the trustee because the directors of the company are the brains behind it.

If you were appointor you could appoint yourself as trustee and then distribute yourself all of hte trust assets.A director is not part of the trust, but part of the company which may be the trustee of the trust.Yes I have heard of specal disability trusts. You should look at getting one of these set up under your grandfather's will. Lots of tax…[Read more]

That will depend on your situation. Every one will want to control wealth themselves or have their close family control it. If a hostile appointor gets in they could legally take all of the trust assets.

The appointor has all the power – so you should try to get this role if possible. You can do this by having the deed amended.

Yes, you can amend the deed. Or have your grandfather's lawyer do it as you must be careful not to cause a resettlement.

makes you want to stick to shares – no land tax and no stamp duty.

yep

The trustee controls the distribution of the income and capital of the trust – but they must act according to their powers in the trust deed.So you want to control the position of trustee by being the trustee or by being the director and majority shareholder of the trustee company. You also want to be the appointor or control the role of appointor…[Read more]