Recommend an online legal firm to setup a discretionary trust

Previously I have setup a discretionary trust and corporate trustee through an accountant, and he used ntaacorporate.com.au to generate the standard documents and registrations. Even getting our name spelling wrong which was annoying. NTAA is paid member service.

Has anyone had any success using other publicly available online services?

So far I have found Discretionary (Family) Trust solutions
Which for $834.50 sets up all the documents and ASIC fees, which looks pretty good.

Any other recommendations appreciated.

 

Cleardocs is used by a lot of lawyers and accountants

 

Don't forget to pay the stamp duty too.

What are you looking for - the quality of the deed, speedy service, advice, price ...?

I think when you are getting down to some of the prices on this site you have to wonder what's in it for the provider: Australian Company Registration | Company Formation, SMSF, Family, Unit Trust Service Provider

 

Why not just use a lawyer as you can get advice and a tailor made deed

 

I'm in WA, fortunately no stamp duty.

Main requirements is of the shelf standardized deed, and then all the links arrange to set up the corporate trustee per whats standard.

Don't really need a customized service.

 

What happens with death of both appointed without customisation?

 

They'll be dead, they won't care (but the beneficiaries might).

 

Thanks Terry, definitely something to consider.

Also read your past thread
Strategy: Backup Appointors of Trusts

 

I was digging into my NTAA trust deed, there was the following;

If a corporate trustee, and the directors are the same as trust appointor, it looks like changing company directors is easier then changing trust appointor on death. the executor is appointed by will and can appoint new directors.

Importance of sole company directors or shareholders having a will | ASIC - Australian Securities and Investments Commission

 

How is the trustee changed after that?

NTAA is not a law firm as far as I know.

 

The trustee doesn't need to change once directors change?
Or the Trustee (Company) acts as Apointor and changes the Trustee.[/QUOTE]

 

[/QUOTE]

What happens if the appointor dies, there is no new appointor but the child inherits the shares of the trustee company. So far all good.

Now what happens if the child becomes bankrupt?
The trustee in bankruptcy of the child becomes the shareholder, stepping into the shoes of the bankrupt. A new director would be appointed - them or an associate.

They then make the bankrupt child presently entitled to all of the income and capital of the trust and the creditors get their hands on the trust's assets.