When the perpetuity period of a trust expires and it’s time to wind things up, our role is to guarantee that your trust is wound up without any loose ends.

During the process of closing a trust, trustees are responsible for making sure that things are validly wound up and in compliance with the trust deed’s terms.

Trusts might need to be closed when the perpetuity expires, when all property under the trust has been distributed among the beneficiaries, when the trust no longer holds any “property” (including no longer holding the settled sum), because of a Court Order, because of terms in the trust deed, or when all of the possible beneficiaries of the trust (of legal age) direct the trustee to terminate the trust.

Generally, discretionary trust deeds provide an explicit date or an event where the trust must ‘vest’, however, if your deed is unclear on this issue, the statutory limit in Australia is eighty years. Antunes Lawyers are experienced in helping clients to identify and comply with the procedures prescribed by the trust deed, obtain relevant consents, and consider all potential beneficiaries, stakeholders, creditors, and tax obligations that may be impacted or triggered by the closing of the trust.

Talk to a trust lawyer today.

Talk to Antunes

When it comes to trusts, you can count on Antunes Lawyers. Our team will ensure that your assets are protected.

Trusts are incredibly effective at protecting assets, but only if they’re carefully drafted. Establishing a trust without careful consideration could leave your assets more vulnerable than before or lead to unexpected taxes.

Our team can help you to determine what kind of trust best suits your needs, draft trust deeds, amend or wind up existing trusts, advise trustees on their obligations and duties, and assist beneficiaries in exercising their rights. When it comes to all things trusts, look no further than Antunes Lawyers.


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