Why change the Unit Trust Name?
QUESTION: If the Unit Trust name doesn’t do anything, why change it? It is not registered anywhere. It is just a nickname to help the Accountant, who may be looking after 100s of other Unit Trusts, identify mine a bit quicker. Why change the Unit Trust Name?
ANSWER: There are many reasons why you may want to update or change your Unit Trust Name:
- Correct spelling errors in the Unit Trust name (e.g. Smith Unit Trust)
- Unit Trust business partner, Tim Crowe, has died (e.g. Tan & Crowe Unit Trust)
- You got rid of your Unit Trust business partner Fred Tan (e.g. Lee and Tan Unit Trust)
- The Unit Trust name is not as clever as you first thought (e.g. Scrooge McDuck Unit Trust)
- Unit Trust name may upset the ATO or other regulators (e.g. Get out of Tax Unit Trust)
- You may not want to be so obvious that the Unit Trust is also a ‘Service Trust‘ for your main business (e.g. Williams Service Trust)
Why do I need a “Deed” to update the name of the Unit Trust Deed?
The answer is in your question. Your Unit Trust was started by a Unit Trust Deed. To update a Deed, you need to do a Deed of Variation of the Unit Trust Name. This is the document you are building.
Any stamp duty or taxation issues when updating the Unit Trust name?
There are no taxation issues when you update the Unit Trust name. With every document you build on our website, you get a letter on our law firm’s letterhead. The letter confirms there are no taxation issues when you correct the Unit Trust name.
Depending on your State, you may need to lodge the Deed for nominal (stamp) duty.
Australia’s only law firm providing a Unit Trust Name Update Deed online. Benefits:
1. Legal Consolidated is responsible for the Unit Trust Change of Name Deed
2. Legal professional privilege
3. Free legal advice as you build the Unit Trust Change Name Deed online
4. Full sample with explanatory notes of the Unit Trust Change Name Deed (see above)
5. Law firm letter confirming Legal Consolidated authored the Unit Trust Deed to Update the Unit Trust Name
Free legal advice to help you build the Change of Trustee of a Unit Trust
- On the top right-hand side of this page, press CLICK TO DOWNLOAD to see a full free sample of our cover letter, minutes and Deed to update your Trustee.
- Your Education and Empowerment starts by pressing START FOR FREE. Answer the questions and read the hints. Every question, since 1988, about updating a Trustee for a Unit Trust is answered in the hints.
- Answer as many questions as you can. Read the hints. Then you are welcome to telephone the law firm. Together a lawyer reviews the answers with you. This is a free service. But start building the Unit Trust Update of a Trustee first as the building process, answers most questions.
|Unit Trust Deed – with both pre-emptive rights and Unitholder asset protection|
|Vesting Deed – to wind up your Unit Trust|
|Company to be trustee of a Unit Trust – corporate trustee for asset protection|
|Update the Trustees of the Unit Trust – remove and replace the trustee of your Unit Trust|
|Unitholders Agreement – the Unitholders’ set of rules that also protects from litigation|