QUESTION: If the Unit Trust name doesn’t really do anything why change it? It is not registered anywhere. It is just a nickname to help the Accountant, who may be looking after 100s of other Unit Trusts, identify mine a bit quicker? Why change Unit Trust Name?
ANSWER: There are many reasons why you may want to update or change your Unit Trust Name:
1. correct spelling errors in the Unit Trust name (e.g. Smitth Unit Trust)
2. Unit Trust business partner, Tim Crowe, has died (e.g. Tan & Crowe Unit Trust)
3. you got rid of your Unit Trust business partner Fred Tan (e.g. Lee and Tan Unit Trust)
4. the Unit Trust name is not as clever as you first thought (e.g. Scrooge McDuck Unit Trust)
5. Unit Trust name may upset the ATO or other regulators (e.g. Get out of Tax Unit Trust)
6. you may not want to be so obvious that the Unit Trust is also a ‘Service Trust‘ for your main business (e.g. Williams Service Trust)
The answer is in your question. Your Unit Trust was started by a Unit Trust Deed. To update a Deed, you need to do a Deed of Variation of the Unit Trust Name. This is the document you are building.
There are no taxation issues when you update the Unit Trust name. With every document, you build on our website you get a letter on our law firm’s letterhead. The letter confirms there are no taxation issues when you correct the Unit Trust name.
Depending on your State you may need to lodge the Deed for nominal (stamp) duty.
1. Legal Consolidated is responsible for the Unit Trust Change of Name Deed
2. Legal professional privilege
3. Free legal advice as you build the Unit Trust Change Name Deed online
4. Full sample with explanatory notes of the Unit Trust Change Name Deed (see above)
5. Law firm letter confirming Legal Consolidated authored the Unit Trust Deed to Update the Unit Trust Name
Telephone us. We can help you answer the questions to correct the Unit Trust name