Family Trust - Vesting

by Stephen Rockliff

Family Trusts usually have a life span of 80 years. However, sometimes the Trust is no longer needed and it may be desirable for the Trustee to exercise their power to vest the Trust prior to the vesting date set out in the Trust Deed.

The Family Trust Vesting Document allows for an “inspecie distribution” of 100% or partial distribution of a particular asset or assets to certain beneficiaries and/or to liquidate the Trust assets and distribute the balance of the proceeds of the sale to certain beneficiaries after discharging the Trust liabilities.

Before vesting your Trust, you should obtain legal and accounting advice regarding the consequences of the vesting. In particular there may be tax implications and stamp duty implications. The Trustee should also obtain advice on its obligations to Trust creditors and to the Trust’s beneficiaries.

For further information or assistance please contact Rockliffs on 02 9299 4912 or email us at


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