Family Trust Form

Family Trust Form
Terms and Conditions

Before You Begin, Please Note

By using this tool, you are agreeing to our full Terms & Conditions. It's also important you understand the following:

We Are Not a Law Firm: Formably is not a law practice and does not provide legal advice. This is a document-building tool, not a legal service.
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The Responsibility is Yours: Only you know your specific needs. You are responsible for choosing the right document and for the answers you provide. If you misunderstand a question, the final document may not be what you need.
No Guarantees: We cannot and do not guarantee that the document you create will be suitable for your situation.
If in Doubt, Ask an Expert: We strongly recommend you consult a qualified lawyer or professional adviser (not us) to ensure this document is right for you.

By clicking “I agree and proceed,” you confirm that you have read and understood these warnings and accept our full Terms & Conditions.
What is the name of the Family Trust?*
NOTE: The word "Trust" must be included at the end of any Trust name
Who Is the Appointor & Guardian?*

HumanCompany
Appointors & Guardians

You can appoint as many Appointors and Guardians as you need. A common structure is to appoint yourself in these roles and list your spouse as the backup.

Below is a simple breakdown of what each role does.

The Appointor (The Ultimate Controller)

This is the most powerful role in the trust. The Appointor's main responsibility is to:
- Hire and fire the Trustee at any time, for any reason.
The Guardian (The Protector)

The Guardian acts as a check on the Trustee's power. The Trustee must get the Guardian’s permission in writing before they can:
- Add or remove a beneficiary.
- Make any changes to the trust deed.
Please Note: In most family trusts, the Appointor is also nominated as the Guardian. For simplicity, the details you enter below will be used for both roles.

Individual Appoitor & Guardian
Name*

First NameLast Name
Address*

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
Email*
Please upload a copy of the Driver's License or Passport*

Cancelof

Corporate Appointor & Guardian
Company Name*
Company ACN*
9 Digits
Address*

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
Email*
Please upload a copy of the Driver's License or Passport for all Directors of the Company*

Cancelof

Backup Appointor & Guardian
Who Is the Backup Appointor & Guardian?*

HumanCorporate
The Role of the Backup Appointor

The Backup Appointor is a crucial part of your trust's succession plan, ensuring long-term control and stability.

This person or company will automatically take over the role of the Appointor only if the primary Appointor passes away or becomes permanently incapacitated (loses the legal capacity to make decisions). This prevents the trust from becoming deadlocked and ensures it can continue to be managed as intended.

Individual Backup Appointor & Guardian
Name*

First NameLast Name
Address*

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
Please upload a copy of the Driver's License or Passport*

Cancelof

Corporate Backup Appointor & Guardian
Comapny Name*
Company ACN*
9 Digits
Address*

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
Please upload a copy of the Driver's License or Passport for all Directors of the Company*

Cancelof

Trustee
Who is the Trustee?*

HumanCompany
The Role of the Trustee

The Trustee is the legal controller of the trust. They are responsible for managing the trust's assets for the ultimate benefit of the beneficiaries.

Key responsibilities include:

Legal Ownership: Holding the legal title to the trust's assets (e.g., property, shares, bank accounts).
Management: Making all day-to-day decisions, such as managing investments and paying trust expenses.
Distribution: Deciding how and when to distribute income or capital to the beneficiaries each year, as outlined in the Trust Deed.
Duty of Care: The Trustee must always act in the best interests of the beneficiaries and comply with all legal obligations.

A Trustee can be one or more individuals (over 18 years of age) or a dedicated company, which is known as a 'Corporate Trustee'.

Individual Trustee
Name*

First NameLast Name
Address*

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
Email*
Please upload a copy of the Driver's License or Passport*

Cancelof

Corporate Trustee
Company Name*
Company ACN*
Address*

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
Email*
Please upload a copy of the Driver's License or Passport for all Directors of the Company*

Cancelof

Foreign Person
Do you want to exclude Foreign Persons from the Trust?*

YesNo
Why are we asking this? In states like NSW, VIC, and QLD, trusts that have foreign beneficiaries may be forced to pay significant extra taxes (called a surcharge) when they buy or own residential property.

What should I choose? To avoid these extra taxes, it is standard practice for most Australian trusts to permanently exclude foreign persons as beneficiaries.

We strongly recommend you select 'Yes' unless you have a specific reason to include beneficiaries who are not Australian citizens or permanent residents.
Do you want the clause in your trust deed which excludes Foreign Persons from the Trust to be irrevocable and not capable of future change?*

YesNo
What does this mean? It means the decision to exclude foreign persons is permanent and cannot be changed in the future.

Why is this important? Some State Revenue Offices (especially in NSW) require the exclusion to be permanent to grant the exemption from the extra taxes. If the clause can be changed later, they may still apply the tax surcharge.

What should I choose? Selecting 'Yes' is the safest and most common option to ensure you avoid any potential tax surcharges on property.

Beneficiaries
The Specified Beneficiaries are:*
Specified Beneficiaries are the people who will receive the trust's income by default. If the Trustee doesn't actively distribute the income to other family members in a financial year, it goes to them.

You must name at least one person who you intend to benefit from the trust.

How to List Their Names

Follow this format when entering names:

Separate multiple names with a comma.
Use "and" between the last two names.

For example:

Jane Smith and John Smith
Jane Smith, John Smith and Kelly Smith

⚠️ Important Tax Warning

Be careful if a beneficiary is a "Foreign Person" under Australian state laws. Naming a foreign person can lead to significant extra state taxes. You should seek legal advice on this issue before adding them.

Settlor
Who is the Settlor?

The Settlor is the person who officially creates the trust. Their only job is to provide a small amount of money (usually $10) to get the trust started. You only need one Settlor.

The Most Important Rule 📜

The Settlor can NEVER benefit from the trust. This means they cannot receive any money or assets from it, now or in the future.

Who Should Be the Settlor?

Because of this rule, you must choose someone who is not part of the family group that will benefit from the trust.

✅ Good choices: A close family friend, your accountant, or your lawyer.

❌ Bad choices: Your spouse, children, parents, uncles, aunts, or any other potential family beneficiary.
Name*

First NameLast Name
Address*

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
Email*
Please choose the laws of the State or Territory that will govern the Trust*

Australian Capital Territory (ACT)New South Wales (NSW)Northern Territory (NT)Queensland (QLD)South Australia (SA)Tasmania (TAS)Victoria (VIC)Western Australia (WA)
Additional Notes or Questions (Optional)

My Products*

Family TrustDiscretionary Trust Deed

$385.00AUD Quantity

Total

$0.00AUD

Payment Details
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Credit Card Number	Security Code
Card Expiration

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