I have completed a deceased estate trust deed, a non-dutiable instrument that is a deed of trust with no property titles involved, only superannuation and bank accounts of the deceased. Do I need to register this deed of trust with some Qld. Gov't Department, given that it has no requirement to be stamped?
Do I need to register a trust deed
- Thread starter David Cloudfarm
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There's no need to register a trust deed in Queensland.
When you say you've "completed a deceased estate trust deed", I'm not sure exactly what you mean by that. If someone has deceased, and you're enacting a testamentary trust, the estate should be administered in accordance with the will (including possibly getting probate, where necessary) and the relevant funds for the trust deposited into an account opened by the trustees in the name of the trust. The bank will want to see a copy of the trust instrument as part of their 'Know Your Customer' requirements under the anti-money laundering and counter-terrorism funding legislation requirements.
Also be aware that superannuation may not form part of the estate's assets unless the superannuation trustee agrees to release it to the estate. If a different beneficiary is nominated, or if there is a binding death benefit notice in place, the trustee will tax (where applicable) and then pay the proceeds in accordance with those instructions.
When you say you've "completed a deceased estate trust deed", I'm not sure exactly what you mean by that. If someone has deceased, and you're enacting a testamentary trust, the estate should be administered in accordance with the will (including possibly getting probate, where necessary) and the relevant funds for the trust deposited into an account opened by the trustees in the name of the trust. The bank will want to see a copy of the trust instrument as part of their 'Know Your Customer' requirements under the anti-money laundering and counter-terrorism funding legislation requirements.
Also be aware that superannuation may not form part of the estate's assets unless the superannuation trustee agrees to release it to the estate. If a different beneficiary is nominated, or if there is a binding death benefit notice in place, the trustee will tax (where applicable) and then pay the proceeds in accordance with those instructions.
I suggest that you book yourself an appointment with @Rob Legat - SBPL asap.
The expense to rectify problems that arise
when the false false economy of DIY Probate/ Administration goes wrong
is usually far greater that the cost of a solicitor to get it done properly in the first place.
The expense to rectify problems that arise
when the false false economy of DIY Probate/ Administration goes wrong
is usually far greater that the cost of a solicitor to get it done properly in the first place.
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