Hello all, I have a Hybrid Trust with Special Income Units issued to myself as the sole SIU holder, the trust has 2 IP's and no debt as the loans were taken out in my own name for negative gearing purposes. I also have Life Insurance to the value of my debts. I'm writing a new will with the intention that my wife will take over as trustee and keep the IP's in the trust for the future benefit of our children. My Life Insurance will pay out the loans I have in my own name so the IP's in the trust will remain debt-free. I have a question about the Special Income Units that are currently on issue. Since all loans would be paid out there is no longer a need to have SIU's issued. Rather than giving the units to someone as part of my estate is it possible to cancel or redeem them in my will? I'd rather cancel them because I don't want the trust to have to come up with the funds to buy them back off me as I assume might happen with a redemption? Or would the trustee have to redeem the SIU's, give the money for the units to my estate and then have the money gifted back to the trust in my will (am I still making sense?). The aim is to keep the debt-free IP's in the trust with no Special Income Units issued so the trustee has the discretion to distribute the income to beneficiaries. I'll eventually run all this by my solicitor but for now any suggestions would be greatly appreciated. Thanks, Oli.