Can Quillio review trust deeds?
Yes. I review discretionary, unit, and hybrid trust deeds. I map the key clauses (appointor, trustee, beneficiaries, amendment power, vesting date, streaming), flag the limits of the amendment power, and advise on trustee duties under the relevant State Trustee Act (for example, the Trustee Act 1958 (VIC) or the Trustee Act 1925 (NSW)).
Deed mapping
I produce a structured map of the deed: who is appointor, trustee, primary beneficiary, general beneficiary; what the amendment power is and who exercises it; what the vesting date is; what the streaming provisions look like; what the accumulation rule is. This map is usually the start of any deed work.
Amendment power limits
The amendment power is rarely unlimited. I flag common limits — the power may not be used to add beneficiaries who were not contemplated (Re Hill; Re Jenkins considerations), and the power cannot be used to give a benefit to the appointor in breach of fiduciary duty.
Streaming and franking
For discretionary trusts I map the streaming clauses against the requirements in Subdivision 115-C and 207-B of the Income Tax Assessment Act 1997 (Cth). I flag when the deed does not clearly permit separate streaming of capital gains and franked dividends.
Step-by-step
- Upload the deed. Upload the original deed and every variation.
- Tell me the purpose. Amendment advice, vesting advice, trustee change, or general review.
- Get the map. I return the deed map with clause references.
- Next steps. From the map, I can draft amendments, change-of-trustee documents, or vesting advice.
Common issues
- Variations are often not properly executed — I flag when the chain of variations does not support the current position
- Amendment power wording matters — "any provision" is not the same as "any provision consistent with the trust"
- I do not currently give tax advice on stamping — stamp duty on resettlement is for a tax specialist
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