Family Trust – disclosure to beneficiaries

Trusts Act 2019 formalises some of ways that family trusts are run. In particular certain disclosures which must be made.

Basic information which must be made available to the beneficiaries, include:

• The person is a beneficiary
• The names and details of the trustees
• If there is any changes to the trustees
• The right of the beneficiary to request a copy of the trust deed

The life of trusts can be 125 years which is higher than what was previously possible.