A Private Discretionary Trust Deed is a fundamental legal instrument used in Australia for creating trust structures that offer flexibility in asset management and distribution. This document is particularly valuable for families and individuals seeking to establish a trust for wealth preservation, tax-efficient distribution of income, asset protection, and succession planning. The deed must comply with both federal and state-specific legislation in Australia, including various Trustee Acts and tax laws. It contains detailed provisions regarding trust administration, trustee powers, beneficiary rights, and distribution mechanisms. Typically used in conjunction with professional legal and tax advice, the Private Discretionary Trust Deed forms the foundation for long-term family wealth management and business succession strategies.
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1. Parties: Identifies the Settlor and the Trustee(s), including their full legal names and addresses
2. Background: Sets out the intention to create the trust and the initial settlement sum
3. Definitions and Interpretation: Defines key terms used throughout the deed and establishes interpretation principles
4. Establishment of Trust: Declares the creation of the trust, acceptance by trustee, and trust name
5. Trust Period: Defines the duration of the trust within perpetuity period requirements
6. Beneficiaries: Defines primary and general beneficiaries and their classes
7. Trustee Powers: Comprehensive list of trustee's administrative and investment powers
8. Income and Capital Distribution: Rules for determining and distributing trust income and capital
9. Trustee Provisions: Appointment, removal, retirement, and remuneration of trustees
10. Administration: General administrative provisions including accounts, records, and meetings
11. Amendment: Power and process for amending the trust deed
12. Governing Law: Specifies the governing law and jurisdiction
13. Execution: Formal execution clauses and attestation
1. Foreign Beneficiary Provisions: Include when trust may have foreign beneficiaries to address tax implications
2. Business Operation Provisions: Include when trust will operate a business directly
3. Minor Beneficiary Provisions: Include when there are likely to be beneficiaries under legal age
4. Corporate Trustee Provisions: Include specific provisions when trustee is a company
5. Sub-Trust Provisions: Include when there may be need to create sub-trusts
6. Perpetuity Period Extension: Include specific provisions where maximum trust period is desired
7. Investment Manager Provisions: Include when professional investment management is contemplated
8. Appointor Provisions: Include when an appointor role is desired for additional control
1. Schedule 1 - Initial Trust Property: Details of settlement sum and any other initial trust property
2. Schedule 2 - Primary Beneficiaries: List of specifically named primary beneficiaries
3. Schedule 3 - General Beneficiaries: Defined classes of general beneficiaries
4. Schedule 4 - Trustee Powers: Detailed list of specific trustee powers and authorities
5. Schedule 5 - Excluded Beneficiaries: List of persons explicitly excluded from benefiting from the trust
6. Schedule 6 - Special Conditions: Any special conditions or variations to standard provisions
7. Appendix A - Execution Requirements: Requirements for valid execution of trust documents
8. Appendix B - Trustee Certification: Formal trustee acceptance and certification
Relevant legal definitions
Accounting Period
Appointor
Assets
Associate
Beneficiary
Business Day
Capital
Child
Class of Beneficiaries
Commissioner
Company
Corporate Trustee
Deceased Estate
Default Beneficiaries
Distribution Date
Excluded Person
Family Group
Financial Year
Foreign Person
General Beneficiary
Governing Law
Gross Income
Guardian
Income
Initial Sum
Investment
Legal Personal Representative
Liabilities
Minor
Net Income
Pay
Person
Primary Beneficiary
Principal
Related Entity
Relative
Resolution
Settlement Date
Settlor
Specified Beneficiary
Spouse
Trust
Trust Fund
Trust Property
Trust Purpose
Trustee
Trustee Act
Trust Deed
Trust Period
Vesting Date
Year
Appointor
Assets
Associate
Beneficiary
Business Day
Capital
Child
Class of Beneficiaries
Commissioner
Company
Corporate Trustee
Deceased Estate
Default Beneficiaries
Distribution Date
Excluded Person
Family Group
Financial Year
Foreign Person
General Beneficiary
Governing Law
Gross Income
Guardian
Income
Initial Sum
Investment
Legal Personal Representative
Liabilities
Minor
Net Income
Pay
Person
Primary Beneficiary
Principal
Related Entity
Relative
Resolution
Settlement Date
Settlor
Specified Beneficiary
Spouse
Trust
Trust Fund
Trust Property
Trust Purpose
Trustee
Trustee Act
Trust Deed
Trust Period
Vesting Date
Year
Clauses
Establishment
Interpretation
Trust Period
Trust Property
Beneficiary Rights
Trustee Powers
Investment Powers
Distribution Powers
Income Determination
Capital Distribution
Trustee Appointment
Trustee Removal
Trustee Remuneration
Appointor Powers
Administrative Provisions
Banking
Record Keeping
Amendment Powers
Foreign Beneficiary
Asset Protection
Liability Limitation
Indemnification
Termination
Perpetuity
Governing Law
Execution
Interpretation
Trust Period
Trust Property
Beneficiary Rights
Trustee Powers
Investment Powers
Distribution Powers
Income Determination
Capital Distribution
Trustee Appointment
Trustee Removal
Trustee Remuneration
Appointor Powers
Administrative Provisions
Banking
Record Keeping
Amendment Powers
Foreign Beneficiary
Asset Protection
Liability Limitation
Indemnification
Termination
Perpetuity
Governing Law
Execution
Relevant Industries
Financial Services
Wealth Management
Legal Services
Real Estate
Family Business
Professional Services
Agriculture
Investment Management
Private Banking
Estate Planning
Relevant Teams
Legal
Wealth Management
Private Client Services
Trust Administration
Tax Advisory
Estate Planning
Corporate Services
Family Office
Financial Planning
Risk & Compliance
Relevant Roles
Trust Lawyer
Estate Planning Attorney
Tax Advisor
Wealth Manager
Financial Planner
Trust Administrator
Family Office Manager
Private Client Advisor
Corporate Trustee Officer
Legal Counsel
Tax Partner
Family Business Advisor
Trust Account Manager
Succession Planning Specialist
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