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Family Trust

Discussion in 'Accounting, Tax & Legal' started by carolyn7, 24th Jul, 2012.

  1. carolyn7

    carolyn7 New Member

    Joined:
    24th Jul, 2012
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    Location:
    wa
    Hello,
    I was wondering if anyone can help me. My ex husband and i started a family trust before we split, i am named as a beneficiary in the trust and am currently in the process of trying to get copies of the trust content. His accountant is stalling me, am i legally entitled to have them?
    Cheers.
     
  2. Terryw

    Terryw Well-Known Member

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    9th Jun, 2006
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    Location:
    Sydney
    Yes you are. You may even view the books and financials of the trust.
     
  3. carolyn7

    carolyn7 New Member

    Joined:
    24th Jul, 2012
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    Location:
    wa
    Thank you very much, i will persist with this, it makes me think they have something to hide.:)
     
  4. Terryw

    Terryw Well-Known Member

    Joined:
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    Location:
    Sydney
    Who controls the role of the appointor of the trust?

    You may be able to sack the trustee if you are the appointor. You may also be able to apply to the supreme court to change the trustee to yourself or an independent entity. Look at the Gina Reinhart case that was in the news recently.

    You may also be able to lodge a caveat over any property the trust owns - that will worry them.

    Also under the Family Law Act you can apply for orders on the trustee to transfer property. When going for a family law settlement both parties would need to disclose their interests in trusts so you may get to find out that way too. Maybe the family law court can make orders that the trust assets be disclosed too.
     
  5. carolyn7

    carolyn7 New Member

    Joined:
    24th Jul, 2012
    Posts:
    3
    Location:
    wa
    I am not sure as we did this trust 12 years ago and split 10 years ago. I was bullied and threatened to resign as director of our company, so stupidly did, and recently my accountant asked me if i ever had a family trust. When i mentioned we did, i had forgot all about it, so i rang my ex husbands accountant, and he thought i had signed a deed years ago to remove me, but no such deed was signed. So now i am asking for the paper work on the trust to go through it and find all these things out.