-
Trust name change
Hello friends…..We opened an unregistered private trust a year ago with a different settlor. The trust deed includes (in our opinion & since becoming a lot more educated!) quite a few terms such as ‘person’, ‘child’, ‘tax assessment act’ etc., all of which make it not entirely private! Our existing trust has a bank account and owns things. We have spoken with the settlor who just tells us it is all completely private and don’t worry about it. But we are worrying about it!
Our question is, if we were to purchase a new private trust from Solutions Empowerment, is it possible to name the new one with our existing trust name so we can continue using the same bank account etc but have a fully private & easy to understand deed? Thanks
-
1 Reply
-
Probably not, but if you already have one Trust at it should be easy to open another account with the same bank. Another problem with calling it the same name is that it could make it more visible to any entity that knows your present Trust name, you want to have as few clues out there as to who owns the Trust.